Russell Investments Group Ltd. lowered its position in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,132 shares of the medical equipment provider's stock after selling 27,366 shares during the period. Russell Investments Group Ltd. owned 1.26% of Iradimed worth $8,807,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Iradimed by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider's stock worth $29,525,000 after acquiring an additional 22,762 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Iradimed by 12.6% in the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock worth $26,156,000 after purchasing an additional 53,138 shares during the last quarter. Geode Capital Management LLC boosted its position in Iradimed by 17.9% during the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock worth $12,255,000 after purchasing an additional 33,879 shares during the period. Bank of New York Mellon Corp grew its holdings in Iradimed by 94.1% during the fourth quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider's stock valued at $5,506,000 after purchasing an additional 48,534 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Iradimed by 189.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider's stock valued at $3,351,000 after purchasing an additional 43,635 shares during the period. Institutional investors own 92.34% of the company's stock.
Iradimed Stock Down 2.0 %
Shares of IRMD stock traded down $1.07 during trading hours on Tuesday, reaching $51.96. 31,841 shares of the company's stock were exchanged, compared to its average volume of 44,699. 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 capitalization of $660.67 million, a P/E ratio of 34.64 and a beta of 0.82. The business has a fifty day moving average price of $53.75 and a 200-day moving average price of $54.12.
Iradimed (NASDAQ:IRMD - Get Free Report) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $19.09 million. As a group, research analysts expect that Iradimed Corporation will post 1.66 EPS for the current fiscal year.
Iradimed Increases Dividend
The business 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 represents a $0.68 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Iradimed's previous quarterly dividend of $0.15. Iradimed's dividend payout ratio (DPR) is presently 45.33%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Roth Mkm restated a "buy" rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.
Get Our Latest Analysis on IRMD
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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