Teacher Retirement System of Texas Has $2.77 Million Stake in Iradimed Corporation (NASDAQ:IRMD)

Teacher Retirement System of Texas lowered its position in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,287 shares of the medical equipment provider's stock after selling 19,856 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.40% of Iradimed worth $2,766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Iradimed in the 4th quarter worth $30,000. US Bancorp DE boosted its holdings in Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after buying an additional 510 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Iradimed by 83.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider's stock worth $117,000 after buying an additional 1,052 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed in the 3rd quarter valued at about $126,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Iradimed in the 4th quarter valued at about $217,000. Institutional investors own 92.34% of the company's stock.

Iradimed Stock Down 1.8 %

Shares of IRMD stock traded down $0.97 during trading on Friday, reaching $52.41. 31,511 shares of the company's stock were exchanged, compared to its average volume of 44,454. The firm's fifty day moving average price is $56.08 and its 200-day moving average price is $53.88. Iradimed Corporation has a twelve month low of $40.18 and a twelve month high of $63.29. The stock has a market capitalization of $666.39 million, a PE ratio of 34.94 and a beta of 0.83.

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Iradimed (NASDAQ:IRMD - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $19.09 million. As a group, analysts anticipate that Iradimed Corporation will post 1.66 EPS for the current fiscal 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 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 dividend yield of 1.30%. This is a positive change from Iradimed's previous quarterly dividend of $0.15. Iradimed's dividend payout ratio (DPR) is 45.33%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IRMD shares. Roth Mkm restated a "buy" rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com cut shares of Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th.

Iradimed Company 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.