JPMorgan Chase & Co. Acquires 17,257 Shares of Iradimed Corporation (NASDAQ:IRMD)

JPMorgan Chase & Co. raised its holdings in Iradimed Corporation (NASDAQ:IRMD) by 59.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,483 shares of the medical equipment provider’s stock after acquiring an additional 17,257 shares during the quarter. JPMorgan Chase & Co.’s holdings in Iradimed were worth $2,557,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Shaker Investments LLC OH lifted its stake in shares of Iradimed by 0.8% in the 4th quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after purchasing an additional 233 shares during the last quarter. Bridge City Capital LLC lifted its position in shares of Iradimed by 0.8% in the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock worth $3,404,000 after buying an additional 462 shares during the last quarter. US Bancorp DE boosted its stake 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 worth $34,000 after acquiring an additional 510 shares in the last quarter. R Squared Ltd acquired a new position in shares of Iradimed during the 4th quarter valued at about $30,000. Finally, Principal Financial Group Inc. raised its stake in shares of Iradimed by 11.2% in the 4th 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 in the last quarter. 92.34% of the stock is owned by institutional investors.

Iradimed Stock Performance

Shares of NASDAQ:IRMD opened at $52.09 on Wednesday. Iradimed Corporation has a 52-week low of $40.55 and a 52-week high of $63.29. The company has a market cap of $662.32 million, a P/E ratio of 34.73 and a beta of 0.82. The stock’s 50-day moving average is $52.78 and its 200-day moving average is $54.17.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 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 business had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. As a group, equities analysts predict that Iradimed Corporation will post 1.66 EPS for the current 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 paid a dividend of $0.17 per share. This is a boost from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Monday, February 24th. Iradimed’s dividend payout ratio is presently 45.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Roth Mkm reaffirmed a “buy” rating and set 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 shares of Iradimed from a “strong-buy” rating to a “buy” rating in a 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.