KLP Kapitalforvaltning AS Invests $924,000 in Iradimed Corporation (NASDAQ:IRMD)

KLP Kapitalforvaltning AS acquired a new stake in Iradimed Corporation (NASDAQ:IRMD) in the fourth quarter, Holdings Channel.com reports. The fund acquired 16,800 shares of the medical equipment provider’s stock, valued at approximately $924,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRMD. Charles Schwab Investment Management Inc. lifted its stake in shares of Iradimed by 189.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after purchasing an additional 43,635 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Iradimed by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after buying an additional 12,051 shares during the period. Principal Financial Group Inc. increased its position in shares of Iradimed by 11.2% during the fourth quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock valued at $299,000 after acquiring an additional 546 shares during the last quarter. Barclays PLC raised its stake in shares of Iradimed by 113.9% in the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock valued at $1,196,000 after acquiring an additional 12,657 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Iradimed in the 4th quarter worth approximately $926,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IRMD has been the topic of a number of research analyst reports. Roth Mkm reissued a “buy” rating and issued a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research 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.

Iradimed Stock Up 0.1 %

Shares of IRMD opened at $52.48 on Tuesday. Iradimed Corporation has a fifty-two week low of $40.18 and a fifty-two week high of $63.29. The company has a market cap of $667.28 million, a P/E ratio of 34.99 and a beta of 0.83. The firm’s 50 day moving average price is $55.95 and its 200 day moving average price is $53.96.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data 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). The company had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. Research analysts forecast that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid 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 a boost from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s dividend payout ratio (DPR) is presently 45.33%.

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.