JPMorgan Chase & Co. Purchases 17,257 Shares of Iradimed Corporation (NASDAQ:IRMD)

JPMorgan Chase & Co. lifted its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 59.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,483 shares of the medical equipment provider's stock after purchasing an additional 17,257 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of Iradimed worth $2,557,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of IRMD. Shaker Investments LLC OH boosted its stake in shares of Iradimed by 0.8% in the fourth 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 last quarter. Bridge City Capital LLC lifted its stake in Iradimed by 0.8% in the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider's stock worth $3,404,000 after acquiring an additional 462 shares during the last quarter. US Bancorp DE lifted its stake in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 510 shares during the last quarter. R Squared Ltd acquired a new stake in Iradimed during the fourth quarter worth approximately $30,000. Finally, Principal Financial Group Inc. increased its holdings 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 acquiring an additional 546 shares during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on IRMD. StockNews.com raised shares of Iradimed from a "buy" rating to a "strong-buy" rating in a report on Friday. Roth Mkm restated a "buy" rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Trading Down 0.6 %

Shares of Iradimed stock traded down $0.30 on Monday, reaching $53.02. 24,675 shares of the company were exchanged, compared to its average volume of 44,452. The stock has a fifty day moving average price of $52.54 and a 200-day moving average price of $54.31. The firm has a market capitalization of $674.15 million, a price-to-earnings ratio of 35.35 and a beta of 0.82. Iradimed Corporation has a fifty-two week low of $40.55 and a fifty-two week high of $63.29.

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

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed's dividend payout ratio (DPR) is presently 45.33%.

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.