Vanguard Group Inc. raised its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,811 shares of the medical equipment provider's stock after buying an additional 22,762 shares during the quarter. Vanguard Group Inc. owned 4.24% of Iradimed worth $29,525,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Iradimed by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider's stock valued at $1,470,000 after acquiring an additional 12,051 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Iradimed by 11.2% during the 4th quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider's stock worth $299,000 after purchasing an additional 546 shares in the last quarter. Barclays PLC increased its holdings in shares of Iradimed by 113.9% during the third quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider's stock worth $1,196,000 after purchasing an additional 12,657 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position 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 valued at $897,000 after buying an additional 2,921 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Iradimed in the fourth quarter valued at approximately $926,000. Institutional investors own 92.34% of the company's stock.
Iradimed Stock Performance
Shares of NASDAQ IRMD traded down $0.19 during trading hours on Friday, hitting $51.77. 32,073 shares of the stock were exchanged, compared to its average volume of 44,766. Iradimed Corporation has a 1-year low of $40.55 and a 1-year high of $63.29. The company has a market cap of $658.26 million, a PE ratio of 34.51 and a beta of 0.82. The company's fifty day simple moving average is $53.04 and its two-hundred day simple moving average is $54.14.
Iradimed (NASDAQ:IRMD - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share 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 business had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. As a group, sell-side analysts expect that Iradimed Corporation will post 1.66 EPS for the current fiscal year.
Iradimed Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.17 per share. This is an increase from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a yield of 1.31%. Iradimed's payout ratio is presently 45.33%.
Analysts Set New Price Targets
A number of equities analysts have commented on IRMD shares. Roth Mkm restated a "buy" rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com downgraded Iradimed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th.
Read Our Latest Analysis on IRMD
About Iradimed
(
Free Report)
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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