Rhumbline Advisers Buys 6,062 Shares of Iradimed Corporation (NASDAQ:IRMD)

Rhumbline Advisers increased its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 46.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,252 shares of the medical equipment provider’s stock after acquiring an additional 6,062 shares during the period. Rhumbline Advisers’ holdings in Iradimed were worth $1,059,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IRMD. Copeland Capital Management LLC boosted its stake in Iradimed by 12.6% during the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock worth $26,156,000 after acquiring an additional 53,138 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Iradimed by 189.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock worth $3,351,000 after acquiring an additional 43,635 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Iradimed during the third quarter worth about $1,239,000. Barclays PLC boosted its stake in Iradimed by 113.9% during the third quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after acquiring an additional 12,657 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Iradimed by 70.2% in 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 last quarter. Institutional investors own 92.34% of the company’s stock.

Iradimed Stock Performance

Shares of Iradimed stock opened at $53.10 on Thursday. The stock has a market capitalization of $672.94 million, a PE ratio of 35.40 and a beta of 0.82. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29. The company has a 50-day simple moving average of $57.50 and a two-hundred day simple moving average of $53.10.

Iradimed (NASDAQ:IRMD) last issued its 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 return on equity of 24.12% and a net margin of 26.26%. The firm had revenue of $19.39 million during the quarter, compared to analysts’ expectations of $19.09 million. As a group, equities research analysts forecast that Iradimed Corporation will post 1.66 EPS for the current fiscal 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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. This is a boost from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. Iradimed’s payout ratio is presently 45.33%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com cut shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

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.