Iradimed Corporation (NASDAQ:IRMD) Shares Acquired by Northern Trust Corp

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Iradimed by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider's stock worth $1,470,000 after purchasing an additional 12,051 shares during the last quarter. SG Americas Securities LLC increased its stake in Iradimed by 125.0% in the 4th quarter. SG Americas Securities LLC now owns 6,595 shares of the medical equipment provider's stock valued at $363,000 after buying an additional 3,664 shares during the period. R Squared Ltd purchased a new position in Iradimed during the 4th quarter worth $30,000. Copeland Capital Management LLC raised its position in Iradimed by 12.6% during the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock worth $26,156,000 after buying an additional 53,138 shares during the last quarter. Finally, Shaker Investments LLC OH lifted its stake in shares of Iradimed by 0.8% in the 4th 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 during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Iradimed Stock Performance

NASDAQ:IRMD traded down $0.93 during trading hours on Thursday, hitting $52.28. The company's stock had a trading volume of 20,816 shares, compared to its average volume of 42,585. Iradimed Corporation has a 52-week low of $41.69 and a 52-week high of $63.29. The business's 50-day moving average is $52.25 and its two-hundred day moving average is $54.48. The company has a market capitalization of $664.74 million, a PE ratio of 34.85 and a beta of 0.91.

Iradimed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. Iradimed's dividend payout ratio (DPR) is presently 43.87%.

Wall Street Analyst Weigh In

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

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.