Oak Ridge Investments LLC Takes $2.19 Million Position in Iradimed Corporation (NASDAQ:IRMD)

Oak Ridge Investments LLC bought a new stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,499 shares of the medical equipment provider's stock, valued at approximately $2,188,000. Oak Ridge Investments LLC owned approximately 0.34% of Iradimed at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IRMD. Shaker Investments LLC OH raised its position in Iradimed by 1.7% during the second quarter. Shaker Investments LLC OH now owns 20,605 shares of the medical equipment provider's stock valued at $905,000 after purchasing an additional 347 shares during the period. ClariVest Asset Management LLC lifted its position in Iradimed by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 17,666 shares of the medical equipment provider's stock worth $776,000 after buying an additional 494 shares during the last quarter. Cim LLC boosted its stake in Iradimed by 5.9% during 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 period. Kings Path Partners LLC increased 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 during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Iradimed in the second quarter valued at $25,000. Institutional investors own 92.34% of the company's stock.

Iradimed Trading Down 2.0 %

Shares of IRMD stock traded down $0.97 on Friday, reaching $48.30. 32,944 shares of the company's stock were exchanged, compared to its average volume of 49,066. The company's fifty day simple moving average is $48.93 and its 200 day simple moving average is $45.47. The stock has a market capitalization of $611.96 million, a PE ratio of 33.75 and a beta of 0.79. Iradimed Corporation has a 52 week low of $39.24 and a 52 week high of $53.99.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, topping 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 prior year, the business posted $0.33 earnings per share. As a group, sell-side analysts predict that Iradimed Corporation will post 1.47 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 15th. Iradimed's dividend payout ratio is presently 41.10%.

Wall Street Analysts Forecast Growth

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

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.