Magnetar Financial LLC Raises Position in Iradimed Corporation (NASDAQ:IRMD)

Magnetar Financial LLC lifted its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 129.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,202 shares of the medical equipment provider's stock after purchasing an additional 6,312 shares during the quarter. Magnetar Financial LLC owned about 0.09% of Iradimed worth $616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd acquired a new stake in Iradimed during the 4th quarter valued at approximately $30,000. US Bancorp DE lifted its position in 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 purchasing an additional 510 shares during the period. Quantbot Technologies LP boosted its holdings in Iradimed by 83.0% in the third 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Iradimed during the 3rd quarter worth about $126,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Iradimed during the 4th quarter valued at about $217,000. Institutional investors and hedge funds own 92.34% of the company's stock.

Iradimed Stock Down 0.3 %

Shares of IRMD stock traded down $0.18 during mid-day trading on Wednesday, hitting $52.78. 52,549 shares of the stock were exchanged, compared to its average volume of 43,419. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29. The company has a market cap of $671.10 million, a PE ratio of 35.19 and a beta of 0.83. The firm has a fifty day moving average of $56.44 and a 200 day moving average of $53.79.

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Iradimed (NASDAQ:IRMD - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $19.09 million. Equities analysts predict that Iradimed Corporation will post 1.66 EPS 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a yield of 1.29%. This is a boost from Iradimed's previous quarterly dividend of $0.15. Iradimed's dividend payout ratio (DPR) is currently 45.33%.

Analysts Set New Price Targets

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

Iradimed 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.