State of Tennessee Department of Treasury Acquires Shares of 5,500 Iradimed Corporation (NASDAQ:IRMD)

State of Tennessee Department of Treasury purchased a new stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,500 shares of the medical equipment provider's stock, valued at approximately $302,000.

Several other institutional investors have also recently bought and sold shares of IRMD. MetLife Investment Management LLC grew its holdings in shares of Iradimed by 11.4% during the fourth quarter. MetLife Investment Management LLC now owns 4,845 shares of the medical equipment provider's stock valued at $266,000 after buying an additional 494 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Iradimed by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider's stock valued at $12,499,000 after acquiring an additional 7,606 shares in the last quarter. Zacks Investment Management acquired a new position in Iradimed during the 4th quarter valued at about $248,000. Barclays PLC increased its holdings in Iradimed by 5.6% during the 4th quarter. Barclays PLC now owns 25,116 shares of the medical equipment provider's stock worth $1,382,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC purchased a new stake in shares of Iradimed in the fourth quarter worth approximately $288,000. Institutional investors and hedge funds own 92.34% of the company's stock.

Iradimed Stock Down 1.7 %

IRMD stock traded down $0.88 during trading on Friday, reaching $51.79. The stock had a trading volume of 24,445 shares, compared to its average volume of 43,568. The company has a market capitalization of $658.51 million, a price-to-earnings ratio of 34.53 and a beta of 0.91. Iradimed Corporation has a one year low of $41.60 and a one year high of $63.29. The company's 50 day moving average is $52.10 and its two-hundred day moving average is $54.37.

Iradimed (NASDAQ:IRMD - Get Free Report) last issued its quarterly earnings results 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). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The business had revenue of $19.39 million for the quarter, compared to analysts' expectations of $19.09 million. As a group, research analysts predict that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 20th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, May 20th. Iradimed's dividend payout ratio (DPR) is currently 43.87%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IRMD shares. Roth Mkm reaffirmed a "buy" rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com raised shares of Iradimed from a "buy" rating to a "strong-buy" rating in a report on Tuesday.

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.