Iradimed Corporation (NASDAQ:IRMD) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 513,012 shares of the medical equipment provider's stock after selling 26,486 shares during the quarter. Renaissance Technologies LLC owned about 4.05% of Iradimed worth $28,216,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Iradimed in the fourth quarter valued at approximately $30,000. US Bancorp DE grew its holdings in Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 510 shares in the last quarter. Huntington National Bank increased its stake in shares of Iradimed by 34.0% in the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock worth $110,000 after acquiring an additional 506 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Iradimed during the 3rd quarter worth $126,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Iradimed during the 4th quarter valued at about $217,000. 92.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on IRMD. 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 reaffirmed a "buy" rating and set a $72.00 price target (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

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Iradimed Price Performance

Shares of NASDAQ:IRMD traded down $1.07 during midday trading on Tuesday, reaching $51.96. 31,841 shares of the company's stock were exchanged, compared to its average volume of 44,760. The firm's 50 day simple moving average is $53.75 and its two-hundred day simple moving average is $54.12. Iradimed Corporation has a fifty-two week low of $40.18 and a fifty-two week high of $63.29. The stock has a market cap of $660.67 million, a price-to-earnings ratio of 34.64 and a beta of 0.82.

Iradimed (NASDAQ:IRMD - Get Free Report) last issued 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 return on equity of 24.12% and a net margin of 26.26%. The company had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. Equities research analysts predict 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 dividend of $0.17 per share. This is a positive change from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a yield of 1.31%. Iradimed's dividend payout ratio is presently 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.