Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Iradimed Corporation (NASDAQ:IRMD)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 21.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,306 shares of the medical equipment provider’s stock after acquiring an additional 2,921 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Iradimed were worth $897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IRMD. R Squared Ltd purchased a new position in shares of Iradimed during the 4th quarter valued at approximately $30,000. US Bancorp DE raised its position in shares of Iradimed by 476.6% during the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 510 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Iradimed by 83.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after acquiring an additional 1,052 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Iradimed during the 3rd quarter valued at approximately $126,000. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Iradimed during the 4th quarter valued at approximately $217,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Iradimed Price Performance

Shares of NASDAQ IRMD opened at $52.33 on Friday. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29. The business’s fifty day moving average price is $56.60 and its two-hundred day moving average price is $53.58. The firm has a market capitalization of $665.38 million, a PE ratio of 34.89 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) 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). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The company had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. Equities research 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. Shareholders of record on Monday, February 24th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.30%. Iradimed’s dividend payout ratio (DPR) is currently 45.33%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRMD. Roth Mkm reissued a “buy” rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com lowered Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th.

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.