Iradimed Corporation (NASDAQ:IRMD) Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 74.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,302 shares of the medical equipment provider's stock after selling 9,769 shares during the quarter. AlphaQuest LLC's holdings in Iradimed were worth $182,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in Iradimed during the 4th quarter worth $30,000. US Bancorp DE boosted its stake in Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 510 shares in the last quarter. Huntington National Bank boosted its stake in Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 504 shares in the last quarter. Gladius Capital Management LP grew its position in Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock worth $87,000 after purchasing an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in Iradimed by 83.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider's stock valued at $117,000 after purchasing an additional 1,052 shares in the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Iradimed Trading Down 0.7 %

Shares of IRMD stock traded down $0.35 during trading hours on Thursday, hitting $52.50. The company's stock had a trading volume of 16,391 shares, compared to its average volume of 43,643. The stock has a market cap of $667.54 million, a PE ratio of 35.00 and a beta of 0.83. Iradimed Corporation has a 12-month low of $40.18 and a 12-month high of $63.29. The company has a 50 day moving average of $56.80 and a 200 day moving average of $53.55.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted 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). The business had revenue of $19.39 million during the quarter, compared to analysts' expectations of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. As a group, analysts anticipate that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued 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 yield of 1.30%. Iradimed's payout ratio is presently 45.33%.

About Iradimed

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.