KLP Kapitalforvaltning AS Invests $924,000 in Iradimed Corporation (NASDAQ:IRMD)

KLP Kapitalforvaltning AS bought a new position in Iradimed Corporation (NASDAQ:IRMD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 16,800 shares of the medical equipment provider's stock, valued at approximately $924,000. KLP Kapitalforvaltning AS owned about 0.13% of Iradimed as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IRMD. R Squared Ltd acquired a new stake in Iradimed during the fourth quarter worth about $30,000. US Bancorp DE raised its position in shares of Iradimed by 476.6% during the 4th 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 period. Quantbot Technologies LP lifted 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 acquiring an additional 1,052 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Iradimed during the third quarter worth $126,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Iradimed in the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 92.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRMD. Roth Mkm reissued a "buy" rating and set a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com lowered shares of Iradimed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th.

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Iradimed Stock Performance

Shares of IRMD traded down $1.44 during midday trading on Friday, hitting $49.92. 43,214 shares of the stock were exchanged, compared to its average volume of 44,416. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29. The stock has a fifty day simple moving average of $55.31 and a 200 day simple moving average of $53.98. The firm has a market cap of $634.73 million, a P/E ratio of 33.28 and a beta of 0.82.

Iradimed (NASDAQ:IRMD - Get Free Report) last released 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). The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. As a group, equities research analysts forecast that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.36%. The ex-dividend date was Monday, February 24th. This is a boost from Iradimed's previous quarterly dividend of $0.15. Iradimed's dividend payout ratio (DPR) is currently 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.