Rhumbline Advisers Has $1.06 Million Stock Holdings in Iradimed Corporation (NASDAQ:IRMD)

Rhumbline Advisers grew its stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 46.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,252 shares of the medical equipment provider's stock after buying an additional 6,062 shares during the period. Rhumbline Advisers owned approximately 0.15% of Iradimed worth $1,059,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Iradimed in the 4th quarter valued at $30,000. Huntington National Bank raised its stake in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider's stock valued at $75,000 after buying an additional 504 shares in the last quarter. Gladius Capital Management LP raised its stake in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock valued at $87,000 after buying an additional 965 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider's stock valued at $117,000 after buying an additional 1,052 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Iradimed in the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 92.34% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Roth Mkm reiterated a "buy" rating and set a $72.00 price objective (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com lowered Iradimed from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th.

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Iradimed Stock Down 0.3 %

Iradimed stock traded down $0.18 during mid-day trading on Friday, hitting $52.21. 30,453 shares of the company were exchanged, compared to its average volume of 41,156. The business has a fifty day moving average of $57.38 and a 200 day moving average of $53.21. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29. The company has a market capitalization of $661.66 million, a PE ratio of 34.81 and a beta of 0.83.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share 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 during the quarter, compared to analyst estimates of $19.09 million. Research analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.17 dividend. This is a boost from Iradimed's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, February 24th. Iradimed's dividend payout ratio (DPR) is 45.33%.

Iradimed Profile

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.