Renaissance Technologies LLC Sells 26,486 Shares of Iradimed Corporation (NASDAQ:IRMD)

Renaissance Technologies LLC lowered its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 513,012 shares of the medical equipment provider's stock after selling 26,486 shares during the quarter. Renaissance Technologies LLC owned about 4.05% of Iradimed worth $28,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Copeland Capital Management LLC lifted its position 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 valued at $26,156,000 after purchasing an additional 53,138 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 acquiring an additional 48,534 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 43,635 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Iradimed in the fourth quarter worth about $2,319,000. Finally, Geode Capital Management LLC increased its holdings in Iradimed by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock valued at $12,255,000 after purchasing an additional 33,879 shares during the period. Hedge funds and other institutional investors own 92.34% of the company's stock.

Iradimed Stock Performance

Shares of IRMD stock traded up $0.36 during mid-day trading on Thursday, reaching $52.32. 8,256 shares of the company's stock traded hands, compared to its average volume of 44,615. Iradimed Corporation has a 12 month low of $40.18 and a 12 month high of $63.29. The firm has a 50 day moving average price of $53.40 and a two-hundred day moving average price of $54.09. The firm has a market capitalization of $665.19 million, a PE ratio of 34.68 and a beta of 0.82.

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 the consensus estimate of $0.45 by ($0.05). The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. As a group, equities analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, February 24th. This is an increase from Iradimed's previous quarterly dividend of $0.15. Iradimed's payout ratio is 45.33%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Roth Mkm restated a "buy" rating and issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com downgraded Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th.

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.