Squarepoint Ops LLC Has $867,000 Holdings in Iradimed Corporation (NASDAQ:IRMD)

Squarepoint Ops LLC lifted its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,764 shares of the medical equipment provider's stock after buying an additional 4,591 shares during the quarter. Squarepoint Ops LLC owned about 0.12% of Iradimed worth $867,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in 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 acquiring an additional 494 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Iradimed by 11.2% in the 4th quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider's stock valued at $299,000 after purchasing an additional 546 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Iradimed by 21.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,306 shares of the medical equipment provider's stock valued at $897,000 after purchasing an additional 2,921 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Iradimed in the fourth quarter worth $926,000. Finally, Avantax Advisory Services Inc. acquired a new position in Iradimed during the fourth quarter worth $217,000. Institutional investors and hedge funds own 92.34% of the company's stock.

Iradimed Stock Performance

Shares of Iradimed stock traded up $2.00 on Tuesday, reaching $59.79. The stock had a trading volume of 51,625 shares, compared to its average volume of 43,251. The business's 50-day moving average price is $52.50 and its two-hundred day moving average price is $54.44. The stock has a market cap of $760.23 million, a P/E ratio of 39.86 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders 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 1.14%. The ex-dividend date was Tuesday, May 20th. Iradimed's dividend payout ratio (DPR) is 43.87%.

Analysts Set New Price Targets

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