Iradimed Corporation (NASDAQ:IRMD) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,811 shares of the medical equipment provider's stock after acquiring an additional 22,762 shares during the period. Vanguard Group Inc. owned about 4.24% of Iradimed worth $29,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copeland Capital Management LLC raised its position 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 purchasing an additional 53,138 shares during the period. Bank of New York Mellon Corp lifted its position in Iradimed by 94.1% in 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. Bridge City Capital LLC boosted its stake in Iradimed by 0.8% during the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider's stock valued at $3,404,000 after buying an additional 462 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Iradimed during the 4th quarter valued at about $2,319,000. Finally, Shaker Investments LLC OH grew its position in Iradimed by 0.8% in the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider's stock worth $1,644,000 after buying an additional 233 shares during the last quarter. 92.34% of the stock is owned by institutional investors.

Iradimed Price Performance

Iradimed stock opened at $53.03 on Tuesday. The firm has a market cap of $674.28 million, a price-to-earnings ratio of 35.35 and a beta of 0.82. The firm has a fifty day moving average price of $53.75 and a two-hundred day moving average price of $54.12. Iradimed Corporation has a fifty-two week low of $40.18 and a fifty-two week high of $63.29.

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Iradimed (NASDAQ:IRMD - Get Free Report) last issued its 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 firm had revenue of $19.39 million during 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, sell-side analysts expect that Iradimed Corporation will post 1.66 earnings per share 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 paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.28%. This is a boost from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed's dividend payout ratio is currently 45.33%.

Analyst Ratings Changes

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

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.

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