Millennium Management LLC Sells 36,176 Shares of Iradimed Corporation (NASDAQ:IRMD)

Millennium Management LLC trimmed its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 45.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 44,051 shares of the medical equipment provider's stock after selling 36,176 shares during the period. Millennium Management LLC owned about 0.35% of Iradimed worth $2,423,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Iradimed by 125.0% in the 4th quarter. SG Americas Securities LLC now owns 6,595 shares of the medical equipment provider's stock worth $363,000 after purchasing an additional 3,664 shares during the last quarter. R Squared Ltd bought a new position in Iradimed during the fourth quarter worth about $30,000. Copeland Capital Management LLC lifted its holdings in Iradimed by 12.6% during the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock worth $26,156,000 after acquiring an additional 53,138 shares in the last quarter. Shaker Investments LLC OH lifted its holdings in Iradimed by 0.8% during the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider's stock worth $1,644,000 after acquiring an additional 233 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Iradimed by 8.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 21,759 shares of the medical equipment provider's stock worth $1,197,000 after acquiring an additional 1,637 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors.

Iradimed Price Performance

Shares of IRMD traded down $0.42 during midday trading on Thursday, hitting $60.36. The stock had a trading volume of 58,418 shares, compared to its average volume of 43,259. The company has a 50 day simple moving average of $52.95 and a two-hundred day simple moving average of $54.59. The firm has a market cap of $767.48 million, a price-to-earnings ratio of 40.24 and a beta of 0.91. Iradimed Corporation has a twelve month low of $41.71 and a twelve month high of $63.29.

Iradimed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 20th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, May 20th. Iradimed's payout ratio is currently 43.87%.

Analysts Set New Price Targets

Several research firms have weighed in on IRMD. Roth Mkm reiterated a "buy" rating and set a $72.00 target price (up from $60.00) on shares of Iradimed in a report on Friday, February 14th. Wall Street Zen raised Iradimed from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

Iradimed Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.