Grandeur Peak Global Advisors LLC Takes $288,000 Position in Iradimed Corporation (NASDAQ:IRMD)

Grandeur Peak Global Advisors LLC acquired a new position in Iradimed Corporation (NASDAQ:IRMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,232 shares of the medical equipment provider's stock, valued at approximately $288,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Iradimed by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider's stock worth $29,525,000 after buying an additional 22,762 shares during the last quarter. Copeland Capital Management LLC grew its position in Iradimed by 12.6% in the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock worth $26,156,000 after purchasing an additional 53,138 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Iradimed by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock worth $12,255,000 after purchasing an additional 33,879 shares during the period. Bank of New York Mellon Corp raised its position in shares of Iradimed by 94.1% during the fourth quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider's stock valued at $5,506,000 after buying an additional 48,534 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Iradimed by 189.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider's stock worth $3,351,000 after buying an additional 43,635 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

Iradimed Price Performance

Shares of IRMD traded down $0.19 during trading hours on Friday, hitting $51.77. The stock had a trading volume of 32,073 shares, compared to its average volume of 44,730. The stock has a market capitalization of $658.26 million, a price-to-earnings ratio of 34.51 and a beta of 0.82. The company's fifty day moving average is $53.23 and its two-hundred day moving average is $54.10. Iradimed Corporation has a 52 week low of $40.18 and a 52 week high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. Equities analysts predict that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. Iradimed's payout ratio is currently 45.33%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IRMD. Roth Mkm reissued a "buy" rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com lowered shares of Iradimed from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th.

Iradimed Company 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.