Voleon Capital Management LP Makes New $804,000 Investment in Iradimed Corporation (NASDAQ:IRMD)

Voleon Capital Management LP bought a new stake in Iradimed Corporation (NASDAQ:IRMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,616 shares of the medical equipment provider's stock, valued at approximately $804,000. Voleon Capital Management LP owned about 0.12% of Iradimed as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of Iradimed by 7.3% in the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider's stock worth $7,869,000 after buying an additional 9,722 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of Iradimed by 35.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 31,016 shares of the medical equipment provider's stock worth $1,706,000 after buying an additional 8,147 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Iradimed by 6.9% during the 4th quarter. Hsbc Holdings PLC now owns 11,520 shares of the medical equipment provider's stock worth $637,000 after buying an additional 740 shares during the period. Uniplan Investment Counsel Inc. bought a new position in Iradimed in the 4th quarter worth $1,790,000. Finally, Stifel Financial Corp lifted its position in Iradimed by 7.6% during the 4th quarter. Stifel Financial Corp now owns 26,295 shares of the medical equipment provider's stock worth $1,446,000 after acquiring an additional 1,867 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company's stock.

Analyst Upgrades and Downgrades

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

Iradimed Stock Performance

Shares of NASDAQ IRMD traded down $0.08 during trading on Wednesday, reaching $50.94. The company had a trading volume of 5,481 shares, compared to its average volume of 38,359. The stock has a market cap of $647.70 million, a PE ratio of 33.96 and a beta of 0.91. The business's 50 day moving average price is $52.20 and its 200-day moving average price is $54.35. 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 issued its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The firm had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Equities analysts anticipate that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.33%. Iradimed's dividend payout ratio is 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.