Millennium Management LLC Sells 14,045 Shares of Iradimed Corporation (NASDAQ:IRMD)

Millennium Management LLC trimmed its holdings in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,054 shares of the medical equipment provider's stock after selling 14,045 shares during the period. Millennium Management LLC owned about 0.66% of Iradimed worth $3,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Shaker Investments LLC OH grew its holdings in Iradimed by 1.7% during the 2nd quarter. Shaker Investments LLC OH now owns 20,605 shares of the medical equipment provider's stock valued at $905,000 after buying an additional 347 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in Iradimed by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 17,666 shares of the medical equipment provider's stock valued at $776,000 after buying an additional 494 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Iradimed during the 2nd quarter valued at about $25,000. Los Angeles Capital Management LLC grew its holdings in Iradimed by 1.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 49,563 shares of the medical equipment provider's stock valued at $2,178,000 after buying an additional 700 shares in the last quarter. Finally, Isthmus Partners LLC grew its holdings in Iradimed by 1.1% during the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 759 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Iradimed Trading Down 0.1 %

Shares of NASDAQ IRMD traded down $0.04 during midday trading on Monday, hitting $50.37. 37,035 shares of the company's stock were exchanged, compared to its average volume of 50,579. Iradimed Corporation has a 12-month low of $36.12 and a 12-month high of $50.93. The company has a market cap of $637.89 million, a price-to-earnings ratio of 35.66 and a beta of 0.79. The business's fifty day moving average price is $46.99 and its two-hundred day moving average price is $44.65.

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

Iradimed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.19%. The ex-dividend date was Tuesday, August 20th. Iradimed's dividend payout ratio is currently 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.