Dimensional Fund Advisors LP Increases Stake in Iradimed Corporation (NASDAQ:IRMD)

Dimensional Fund Advisors LP lifted its position in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,257 shares of the medical equipment provider's stock after buying an additional 7,606 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.79% of Iradimed worth $12,499,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IRMD. Vanguard Group Inc. increased its position in Iradimed by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider's stock valued at $29,525,000 after purchasing an additional 22,762 shares during the period. Copeland Capital Management LLC raised its stake in Iradimed by 12.6% in the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock worth $26,156,000 after buying an additional 53,138 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Iradimed by 17.9% during the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock worth $12,255,000 after buying an additional 33,879 shares during the period. Bank of New York Mellon Corp boosted its position in Iradimed by 94.1% during the 4th 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 acquiring an additional 48,534 shares in the last quarter. Finally, Bridge City Capital LLC raised its position in shares of Iradimed by 0.8% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 92.34% of the company's stock.

Iradimed Price Performance

Iradimed stock traded up $1.25 during midday trading on Thursday, reaching $53.16. The company's stock had a trading volume of 3,016 shares, compared to its average volume of 43,272. The stock has a market capitalization of $675.93 million, a P/E ratio of 35.38 and a beta of 0.91. The stock's 50-day simple moving average is $52.10 and its 200-day simple moving average is $54.38. Iradimed Corporation has a 52-week low of $41.60 and a 52-week high of $63.29.

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

Iradimed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be 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%. The ex-dividend date is Tuesday, May 20th. Iradimed's dividend payout ratio (DPR) is presently 43.87%.

Analysts Set New Price Targets

Several equities analysts have issued reports on IRMD shares. Roth Mkm reiterated a "buy" rating and issued a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com raised shares of 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.