Iradimed Corporation (NASDAQ:IRMD) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,772 shares of the medical equipment provider’s stock after purchasing an additional 33,879 shares during the period. Geode Capital Management LLC’s holdings in Iradimed were worth $12,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRMD. JPMorgan Chase & Co. increased its position in shares of Iradimed by 59.0% during the 4th quarter. JPMorgan Chase & Co. now owns 46,483 shares of the medical equipment provider’s stock valued at $2,557,000 after purchasing an additional 17,257 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Iradimed by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after buying an additional 22,762 shares during the period. Bridge City Capital LLC boosted its stake in Iradimed by 0.8% during the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock valued at $3,404,000 after buying an additional 462 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Iradimed during the fourth quarter worth about $924,000. Finally, Sei Investments Co. grew its holdings in Iradimed by 5.7% during the fourth quarter. Sei Investments Co. now owns 12,750 shares of the medical equipment provider’s stock worth $703,000 after acquiring an additional 686 shares during the period. Institutional investors own 92.34% of the company’s stock.

Iradimed Stock Down 1.9 %

IRMD opened at $50.78 on Tuesday. The firm has a market cap of $645.67 million, a PE ratio of 33.85 and a beta of 0.82. The business has a fifty day simple moving average of $52.85 and a 200-day simple moving average of $54.18. Iradimed Corporation has a fifty-two week low of $40.55 and a fifty-two week high of $63.29.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.17 dividend. This is an increase from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, February 24th. Iradimed’s dividend payout ratio (DPR) is 45.33%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRMD. Roth Mkm reissued a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com lowered shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th.

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.