Voleon Capital Management LP Invests $804,000 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 the company in its most recent Form 13F filing with the 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. 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 holdings 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 buying an additional 48,534 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Iradimed during the 4th quarter valued at $2,319,000. Geode Capital Management LLC grew its holdings in Iradimed by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock worth $12,255,000 after acquiring an additional 33,879 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. purchased a new position in shares of Iradimed in the fourth quarter valued at about $1,790,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Iradimed Stock Up 1.0 %

Iradimed stock traded up $0.53 during trading hours on Friday, hitting $53.47. The stock had a trading volume of 27,389 shares, compared to its average volume of 43,766. Iradimed Corporation has a 12-month low of $41.60 and a 12-month high of $63.29. The stock has a market capitalization of $679.87 million, a P/E ratio of 35.65 and a beta of 0.91. The stock's 50-day moving average price is $52.33 and its 200-day moving average price is $54.35.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its 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). The business 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%. On average, research analysts expect that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.17 dividend. This is a boost from Iradimed's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, February 24th. Iradimed's dividend payout ratio (DPR) is currently 45.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IRMD shares. StockNews.com upgraded shares of Iradimed from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Roth Mkm reiterated a "buy" rating and issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

Iradimed Company 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.