Grandeur Peak Global Advisors LLC Invests $288,000 in Iradimed Corporation (NASDAQ:IRMD)

Grandeur Peak Global Advisors LLC bought a new stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,232 shares of the medical equipment provider's stock, valued at approximately $288,000.

A number of other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Iradimed by 189.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider's stock valued at $3,351,000 after buying an additional 43,635 shares in the last quarter. Stifel Financial Corp lifted its stake in Iradimed by 9.8% during the third quarter. Stifel Financial Corp now owns 24,428 shares of the medical equipment provider's stock worth $1,229,000 after purchasing an additional 2,174 shares during the last quarter. Barclays PLC boosted its holdings in shares of Iradimed by 113.9% in the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider's stock valued at $1,196,000 after purchasing an additional 12,657 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Iradimed in the 3rd quarter valued at $126,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Iradimed during the 3rd quarter worth $246,000. Institutional investors own 92.34% of the company's stock.

Iradimed Stock Down 2.0 %

Shares of IRMD stock traded down $1.07 during mid-day trading on Tuesday, reaching $51.96. 31,841 shares of the stock traded hands, compared to its average volume of 44,760. The company has a market cap of $660.67 million, a price-to-earnings ratio of 34.64 and a beta of 0.82. The stock's fifty day simple moving average is $53.57 and its two-hundred day simple moving average is $54.10. 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 posted its 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 business had revenue of $19.39 million for the quarter, compared to the consensus estimate of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. On average, equities research analysts anticipate that Iradimed Corporation will post 1.66 EPS 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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Iradimed's previous quarterly dividend of $0.15. Iradimed's payout ratio is 45.33%.

Wall Street Analysts Forecast Growth

IRMD has been the subject of several research analyst reports. Roth Mkm reissued a "buy" rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com lowered shares of Iradimed from a "strong-buy" rating to a "buy" rating in a research 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.