JPMorgan Chase & Co. Increases Stake in Iradimed Corporation (NASDAQ:IRMD)

JPMorgan Chase & Co. boosted its holdings in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 70.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,226 shares of the medical equipment provider's stock after buying an additional 12,051 shares during the quarter. JPMorgan Chase & Co. owned 0.23% of Iradimed worth $1,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of Iradimed by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 24,779 shares of the medical equipment provider's stock worth $1,246,000 after purchasing an additional 472 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider's stock valued at $75,000 after buying an additional 504 shares during the period. Cim LLC boosted its stake in shares of Iradimed by 5.9% in the second quarter. Cim LLC now owns 10,089 shares of the medical equipment provider's stock worth $464,000 after buying an additional 561 shares during the last quarter. Kings Path Partners LLC raised its position in Iradimed by 2.3% during the third quarter. Kings Path Partners LLC now owns 24,570 shares of the medical equipment provider's stock valued at $1,236,000 after acquiring an additional 562 shares in the last quarter. Finally, Gladius Capital Management LP raised its position in Iradimed by 126.6% during the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock valued at $87,000 after acquiring an additional 965 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the sale, the chief financial officer now owns 4,383 shares of the company's stock, valued at approximately $237,470.94. The trade was a 36.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.10% of the stock is owned by company insiders.

Iradimed Trading Up 0.2 %

Iradimed stock traded up $0.14 during mid-day trading on Friday, hitting $60.48. The company had a trading volume of 23,552 shares, compared to its average volume of 38,063. The company has a market capitalization of $766.28 million, a price-to-earnings ratio of 41.42 and a beta of 0.81. The company's fifty day moving average is $55.23 and its 200-day moving average is $50.68. Iradimed Corporation has a 12-month low of $40.18 and a 12-month high of $61.00.

Iradimed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, November 15th. Iradimed's dividend payout ratio (DPR) is presently 41.10%.

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.