Prosperity Wealth Management Inc. Acquires Shares of 6,595 iRadimed Corporation (NASDAQ:IRMD)

Prosperity Wealth Management Inc. acquired a new stake in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,595 shares of the medical equipment provider's stock, valued at approximately $346,000. Prosperity Wealth Management Inc. owned about 0.05% of iRadimed as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its holdings in shares of iRadimed by 11.4% in the fourth quarter. MetLife Investment Management LLC now owns 4,845 shares of the medical equipment provider's stock worth $266,000 after buying an additional 494 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of iRadimed by 11.2% in the fourth quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider's stock worth $299,000 after buying an additional 546 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of iRadimed by 21.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,306 shares of the medical equipment provider's stock worth $897,000 after buying an additional 2,921 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of iRadimed by 8.1% in the fourth quarter. Bank of America Corp DE now owns 25,971 shares of the medical equipment provider's stock worth $1,428,000 after buying an additional 1,949 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of iRadimed in the fourth quarter worth about $217,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of iRadimed from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th.

iRadimed Price Performance

Shares of IRMD opened at $57.98 on Wednesday. The firm's 50 day simple moving average is $54.33 and its 200 day simple moving average is $54.96. The company has a market capitalization of $737.51 million, a P/E ratio of 37.41 and a beta of 0.92. iRadimed Corporation has a 1-year low of $42.11 and a 1-year high of $63.29.

iRadimed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 20th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Tuesday, May 20th. iRadimed's dividend payout ratio is currently 43.87%.

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.

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