Ranger Investment Management L.P. lessened its position in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,733 shares of the medical equipment provider's stock after selling 5,409 shares during the period. Ranger Investment Management L.P. owned about 1.93% of Iradimed worth $13,460,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Iradimed by 189.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider's stock valued at $3,351,000 after acquiring an additional 43,635 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Iradimed by 70.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider's stock worth $1,470,000 after buying an additional 12,051 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Iradimed by 11.2% during the 4th quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider's stock worth $299,000 after buying an additional 546 shares during the last quarter. Barclays PLC boosted its holdings in shares of Iradimed by 113.9% in the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider's stock valued at $1,196,000 after buying an additional 12,657 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Iradimed by 21.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,306 shares of the medical equipment provider's stock valued at $897,000 after buying an additional 2,921 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.
Iradimed Stock Down 0.6 %
NASDAQ:IRMD traded down $0.31 during trading hours on Monday, reaching $51.98. 26,903 shares of the company's stock were exchanged, compared to its average volume of 44,674. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29. The firm has a market capitalization of $660.93 million, a price-to-earnings ratio of 34.65 and a beta of 0.82. The company has a 50-day moving average of $53.95 and a 200 day moving average of $54.09.
Iradimed (NASDAQ:IRMD - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The company had revenue of $19.39 million for the quarter, compared to analysts' expectations of $19.09 million. Research analysts forecast that Iradimed Corporation will post 1.66 EPS for the current fiscal year.
Iradimed Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.17 per share. The ex-dividend date was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. This is an increase from Iradimed's previous quarterly dividend of $0.15. Iradimed's dividend payout ratio is presently 45.33%.
Analysts Set New Price Targets
Several equities analysts have issued reports on IRMD shares. StockNews.com downgraded shares of Iradimed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Roth Mkm restated a "buy" rating and set a $72.00 price target (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th.
Read Our Latest Analysis on Iradimed
About Iradimed
(
Free Report)
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.
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