Uniplan Investment Counsel Inc. Invests $1.79 Million in Iradimed Corporation (NASDAQ:IRMD)

Uniplan Investment Counsel Inc. acquired a new stake in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 32,540 shares of the medical equipment provider's stock, valued at approximately $1,790,000. Uniplan Investment Counsel Inc. owned approximately 0.26% of Iradimed at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Iradimed during the fourth quarter valued at about $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. Huntington National Bank boosted its position in Iradimed by 34.0% during the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock valued at $110,000 after purchasing an additional 506 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Iradimed during the third quarter valued at about $126,000. Finally, Avantax Advisory Services Inc. bought a new stake in Iradimed during the fourth quarter valued at about $217,000. Institutional investors own 92.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IRMD shares. Roth Mkm reaffirmed a "buy" rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com upgraded Iradimed from a "buy" rating to a "strong-buy" rating in a research note on Friday.

Iradimed Price Performance

Iradimed stock traded up $0.19 during midday trading on Friday, reaching $53.32. The company's stock had a trading volume of 28,235 shares, compared to its average volume of 44,531. The stock's 50-day simple moving average is $52.62 and its 200-day simple moving average is $54.29. Iradimed Corporation has a 52-week low of $40.55 and a 52-week high of $63.29. The stock has a market capitalization of $677.96 million, a P/E ratio of 35.55 and a beta of 0.82.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The business had revenue of $19.39 million during the quarter, compared to analysts' expectations of $19.09 million. 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 disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. This is a boost from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. Iradimed's dividend payout ratio (DPR) 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.