Vanguard Group Inc. Grows Stock Holdings in iRadimed Corporation $IRMD

Key Points

• Vanguard Group Inc. has increased its holdings in iRadimed Corporation to approximately $29.10 million, owning about 4.36% of the company's shares after acquiring an additional 17,640 shares.
• iRadimed recently declared a quarterly dividend of $0.17 per share, with an annualized yield of 0.9%, to be paid on August 28th.
• Wall Street analysts have upgraded iRadimed from a "buy" to a "strong-buy" rating, with a consensus target price of $72.00.

Vanguard Group Inc. lifted its holdings in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 554,451 shares of the medical equipment provider's stock after buying an additional 17,640 shares during the period. Vanguard Group Inc. owned about 4.36% of iRadimed worth $29,098,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IRMD. First Horizon Advisors Inc. raised its position in shares of iRadimed by 78.7% during the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 226 shares in the last quarter. US Bancorp DE raised its position in shares of iRadimed by 132.7% during the 1st quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock valued at $75,000 after buying an additional 819 shares in the last quarter. State of Wyoming purchased a new stake in shares of iRadimed during the 4th quarter valued at about $149,000. Snowden Capital Advisors LLC purchased a new stake in shares of iRadimed during the 4th quarter valued at about $229,000. Finally, Avantax Advisory Services Inc. raised its position in shares of iRadimed by 15.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,546 shares of the medical equipment provider's stock valued at $239,000 after buying an additional 599 shares in the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of iRadimed from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $72.00.

iRadimed Stock Down 1.1%

NASDAQ:IRMD traded down $0.81 during mid-day trading on Tuesday, hitting $71.63. 26,659 shares of the stock traded hands, compared to its average volume of 50,881. The stock has a market capitalization of $911.13 million, a price-to-earnings ratio of 44.22 and a beta of 1.02. iRadimed Corporation has a 52 week low of $44.58 and a 52 week high of $74.00. The firm's 50 day moving average is $64.31 and its two-hundred day moving average is $57.59.

iRadimed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, August 18th. iRadimed's dividend payout ratio is presently 41.98%.

Insider Buying and Selling

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the sale, the director directly owned 19,898 shares of the company's stock, valued at $1,374,951.80. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 36.80% of the company's stock.

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.