Northern Trust Corp Purchases 9,722 Shares of Iradimed Corporation (NASDAQ:IRMD)

Northern Trust Corp raised its holdings in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,069 shares of the medical equipment provider's stock after acquiring an additional 9,722 shares during the period. Northern Trust Corp owned approximately 1.13% of Iradimed worth $7,869,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Iradimed during the 4th quarter valued at $30,000. US Bancorp DE grew its holdings in shares of Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 510 shares during the last quarter. Huntington National Bank grew its holdings in shares of Iradimed by 34.0% in the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock worth $110,000 after acquiring an additional 506 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Iradimed in the 4th quarter worth $217,000. Finally, Bessemer Group Inc. grew its holdings in shares of Iradimed by 9.6% in the 4th quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider's stock worth $228,000 after acquiring an additional 362 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Stock Down 2.3%

Iradimed stock traded down $1.19 during trading hours on Friday, hitting $51.09. The stock had a trading volume of 27,862 shares, compared to its average volume of 42,720. The company has a 50-day moving average of $52.24 and a two-hundred day moving average of $54.47. The company has a market cap of $649.61 million, a PE ratio of 34.06 and a beta of 0.91. Iradimed Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $63.29.

Iradimed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 annualized dividend and a yield of 1.33%. Iradimed's dividend payout ratio (DPR) is 43.87%.

Wall Street Analysts Forecast Growth

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

About Iradimed

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.