Iradimed (NASDAQ:IRMD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Iradimed (NASDAQ:IRMD - Free Report) from a buy rating to a strong-buy rating in a research report released on Friday.

Separately, Roth Mkm reissued a "buy" rating and issued a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

Iradimed Stock Performance

NASDAQ:IRMD traded down $0.90 during mid-day trading on Friday, reaching $56.24. The stock had a trading volume of 51,919 shares, compared to its average volume of 42,430. Iradimed has a twelve month low of $40.18 and a twelve month high of $63.29. The business has a 50 day simple moving average of $57.33 and a 200 day simple moving average of $52.40. The firm has a market capitalization of $712.56 million, a price-to-earnings ratio of 37.49 and a beta of 0.82.

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 the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. As a group, sell-side analysts expect that Iradimed will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, February 24th. This is a positive change from Iradimed's previous quarterly dividend of $0.15. Iradimed's dividend payout ratio (DPR) is 40.00%.

Insider Transactions at Iradimed

In related news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the sale, the chief financial officer now owns 4,383 shares of the company's stock, valued at $237,470.94. The trade was a 36.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 37.10% of the company's stock.

Institutional Investors Weigh In On Iradimed

Several hedge funds and other institutional investors have recently bought and sold shares of IRMD. Vanguard Group Inc. raised its stake in Iradimed by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider's stock valued at $29,525,000 after buying an additional 22,762 shares in the last quarter. Copeland Capital Management LLC grew its stake in 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 buying an additional 53,138 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Iradimed by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider's stock worth $12,499,000 after acquiring an additional 7,606 shares during the period. Geode Capital Management LLC increased its stake in shares of Iradimed by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock valued at $12,255,000 after purchasing an additional 33,879 shares during the period. Finally, Northern Trust Corp increased its position in Iradimed by 7.3% in the 4th quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider's stock valued at $7,869,000 after acquiring an additional 9,722 shares during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

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.