HighTower Advisors LLC Has $3.30 Million Holdings in Iradimed Corporation (NASDAQ:IRMD)

HighTower Advisors LLC reduced its position in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 27.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the medical equipment provider's stock after selling 22,356 shares during the quarter. HighTower Advisors LLC owned 0.47% of Iradimed worth $3,300,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC boosted its stake in shares of Iradimed by 12.6% during the 4th 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 during the period. Bank of New York Mellon Corp boosted its position in Iradimed by 94.1% during the fourth quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider's stock worth $5,506,000 after purchasing an additional 48,534 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Iradimed by 189.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider's stock valued at $3,351,000 after purchasing an additional 43,635 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Iradimed in the fourth quarter valued at $2,319,000. Finally, Algert Global LLC raised its position in shares of Iradimed by 16.4% in the third quarter. Algert Global LLC now owns 31,158 shares of the medical equipment provider's stock valued at $1,567,000 after purchasing an additional 4,384 shares during the period. Institutional investors and hedge funds own 92.34% of the company's stock.

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Iradimed Stock Up 0.2 %

Shares of IRMD traded up $0.10 during midday trading on Tuesday, reaching $52.96. 27,431 shares of the stock were exchanged, compared to its average volume of 43,413. The stock's 50 day simple moving average is $56.53 and its 200 day simple moving average is $53.73. The company has a market cap of $673.39 million, a P/E ratio of 35.31 and a beta of 0.83. Iradimed Corporation has a twelve month low of $40.18 and a twelve month high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS 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%. As a group, analysts predict that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.17 dividend. This is a boost from Iradimed's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, February 24th. Iradimed's payout ratio is 45.33%.

Wall Street Analyst Weigh In

Several analysts recently commented on IRMD shares. StockNews.com downgraded shares of Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Roth Mkm restated a "buy" rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a report 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.