Marshall Wace LLP Invests $463,000 in Iradimed Corporation (NASDAQ:IRMD)

Marshall Wace LLP purchased a new position in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,531 shares of the medical equipment provider's stock, valued at approximately $463,000. Marshall Wace LLP owned approximately 0.08% of Iradimed at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Isthmus Partners LLC grew its holdings in Iradimed by 880.8% in the first quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider's stock valued at $3,163,000 after purchasing an additional 64,574 shares during the period. Liontrust Investment Partners LLP purchased a new stake in Iradimed in the second quarter valued at approximately $2,830,000. Roubaix Capital LLC purchased a new stake in Iradimed in the first quarter valued at approximately $2,213,000. Kings Path Partners LLC purchased a new stake in Iradimed in the second quarter valued at approximately $1,055,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Iradimed in the second quarter valued at approximately $568,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their target price 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 Performance

Iradimed stock traded up $1.32 during trading on Friday, reaching $50.41. The company had a trading volume of 44,529 shares, compared to its average volume of 50,648. The firm has a market capitalization of $638.69 million, a price-to-earnings ratio of 34.53 and a beta of 0.79. Iradimed Corporation has a 12-month low of $36.12 and a 12-month high of $50.93. The stock's 50 day moving average price is $46.99 and its two-hundred day moving average price is $44.63.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The firm had revenue of $17.93 million for the quarter, compared to analysts' expectations of $17.70 million. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, research analysts expect that Iradimed Corporation will post 1.41 earnings per share for the current year.

Iradimed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Iradimed's dividend payout ratio (DPR) is 41.10%.

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.