Raymond James Financial Inc. Acquires Shares of 42,170 Iradimed Corporation (NASDAQ:IRMD)

Raymond James Financial Inc. acquired a new stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,170 shares of the medical equipment provider's stock, valued at approximately $2,319,000. Raymond James Financial Inc. owned 0.33% of Iradimed as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Iradimed in the 4th quarter valued at $30,000. US Bancorp DE boosted its position in Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 510 shares in the last quarter. Quantbot Technologies LP grew its stake in Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider's stock valued at $117,000 after purchasing an additional 1,052 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Iradimed in the third quarter worth about $126,000. Finally, Silver Coast Investments LLC purchased a new stake in shares of Iradimed during the fourth quarter valued at about $236,000. Institutional investors own 92.34% of the company's stock.

Wall Street Analyst Weigh In

IRMD has been the topic of a number of analyst reports. StockNews.com downgraded shares of Iradimed from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Roth Mkm reaffirmed a "buy" rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

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Iradimed Price Performance

Iradimed stock traded up $0.15 during midday trading on Wednesday, reaching $53.60. The company's stock had a trading volume of 22,775 shares, compared to its average volume of 44,412. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29. The stock has a market capitalization of $681.52 million, a P/E ratio of 35.73 and a beta of 0.82. The stock's 50-day simple moving average is $55.70 and its 200-day simple moving average is $53.99.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced 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). The company had revenue of $19.39 million during the quarter, compared to analysts' expectations of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. As a group, equities research analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.17 dividend. This is a positive change from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. Iradimed's dividend payout ratio (DPR) is 45.33%.

About Iradimed

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.