Iradimed Corporation (NASDAQ:IRMD) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 17.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,772 shares of the medical equipment provider's stock after purchasing an additional 33,879 shares during the quarter. Geode Capital Management LLC owned about 1.76% of Iradimed worth $12,255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Iradimed during the fourth quarter worth about $30,000. US Bancorp DE grew its holdings in shares of 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 buying an additional 510 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Iradimed in the 3rd quarter valued at $126,000. Avantax Advisory Services Inc. purchased a new position in Iradimed in the 4th quarter worth $217,000. Finally, Silver Coast Investments LLC acquired a new stake in Iradimed during the 4th quarter worth about $236,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IRMD shares. Roth Mkm reissued a "buy" rating and issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com raised shares of Iradimed from a "buy" rating to a "strong-buy" rating in a research report on Friday.

Iradimed Trading Up 0.4 %

IRMD traded up $0.19 during midday trading on Friday, hitting $53.32. 28,235 shares of the company were exchanged, compared to its average volume of 44,461. The company's 50 day simple moving average is $52.62 and its 200 day simple moving average is $54.22. The firm has a market capitalization of $677.96 million, a price-to-earnings ratio of 35.55 and a beta of 0.82. Iradimed Corporation has a 1-year low of $40.55 and a 1-year high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted 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). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The company had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. On average, equities analysts anticipate that Iradimed Corporation will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.28%. This is an increase from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed's dividend payout ratio (DPR) is presently 45.33%.

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.