16,830 Shares in Iradimed Corporation (NASDAQ:IRMD) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Iradimed Corporation (NASDAQ:IRMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 16,830 shares of the medical equipment provider's stock, valued at approximately $926,000. Proficio Capital Partners LLC owned about 0.13% of Iradimed at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Iradimed during the 4th quarter worth about $30,000. US Bancorp DE increased its position in shares of Iradimed by 476.6% during the fourth 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 during the last quarter. Quantbot Technologies LP raised its stake in shares of Iradimed by 83.0% in 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 during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Iradimed in the 3rd quarter worth approximately $126,000. Finally, Silver Coast Investments LLC purchased a new position in shares of Iradimed during the 4th quarter worth approximately $236,000. Hedge funds and other institutional investors own 92.34% of the company's stock.

Iradimed Price Performance

Shares of NASDAQ IRMD traded up $0.10 during mid-day trading on Tuesday, hitting $52.96. The company had a trading volume of 27,431 shares, compared to its average volume of 43,413. The company has a market capitalization of $673.39 million, a PE ratio of 35.31 and a beta of 0.83. The business's 50-day simple moving average is $56.53 and its 200 day simple moving average is $53.73. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29.

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Iradimed (NASDAQ:IRMD - Get Free Report) 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). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The company had revenue of $19.39 million during the quarter, compared to analysts' expectations of $19.09 million. On average, analysts expect that Iradimed Corporation will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The company also recently disclosed 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 an increase from Iradimed's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Iradimed's dividend payout ratio is currently 45.33%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered Iradimed from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Roth Mkm reissued a "buy" rating and issued a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th.

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.