Algert Global LLC Has $1.18 Million Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Algert Global LLC raised its holdings in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 84.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,774 shares of the medical equipment provider's stock after purchasing an additional 12,227 shares during the quarter. Algert Global LLC owned 0.21% of Iradimed worth $1,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new position in Iradimed during the 2nd quarter worth approximately $25,000. Comerica Bank lifted its stake in shares of Iradimed by 2,151.6% in the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider's stock valued at $63,000 after acquiring an additional 1,377 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Iradimed during the 1st quarter valued at $150,000. Bessemer Group Inc. acquired a new position in Iradimed in the 1st quarter worth about $183,000. Finally, Bailard Inc. bought a new position in Iradimed in the second quarter valued at about $202,000. Institutional investors own 92.34% of the company's stock.

Analysts Set New Price Targets

Separately, Roth Mkm dropped their price objective on shares of Iradimed from $65.00 to $60.00 and set a "buy" rating for the company in a report on Friday, August 2nd.

Iradimed Stock Up 1.3 %

Shares of NASDAQ IRMD traded up $0.65 during trading on Friday, reaching $49.82. The company had a trading volume of 25,652 shares, compared to its average volume of 51,230. The stock has a market cap of $630.92 million, a P/E ratio of 35.33 and a beta of 0.79. The company's fifty day moving average price is $46.66 and its 200-day moving average price is $44.44. Iradimed Corporation has a 12 month low of $36.12 and a 12 month high of $50.93.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. During the same quarter last year, the business earned $0.33 EPS. As a group, equities analysts predict that Iradimed Corporation will post 1.41 earnings per share for the current year.

Iradimed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Iradimed's payout ratio is 42.55%.

Iradimed Company Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.