Los Angeles Capital Management LLC Sells 4,438 Shares of Iradimed Corporation (NASDAQ:IRMD)

Los Angeles Capital Management LLC lowered its stake in Iradimed Corporation (NASDAQ:IRMD) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,863 shares of the medical equipment provider’s stock after selling 4,438 shares during the period. Los Angeles Capital Management LLC owned approximately 0.39% of Iradimed worth $2,149,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of IRMD. Barclays PLC increased its position in shares of Iradimed by 43.0% in the third quarter. Barclays PLC now owns 10,656 shares of the medical equipment provider’s stock worth $472,000 after purchasing an additional 3,203 shares during the period. Swiss National Bank bought a new position in Iradimed in the third quarter valued at about $737,000. Hsbc Holdings PLC bought a new position in Iradimed in the third quarter valued at about $251,000. Algert Global LLC grew its position in Iradimed by 218.5% in the third quarter. Algert Global LLC now owns 17,070 shares of the medical equipment provider’s stock valued at $757,000 after acquiring an additional 11,710 shares during the last quarter. Finally, SG Capital Management LLC bought a new position in Iradimed in the third quarter valued at about $548,000. Institutional investors own 92.34% of the company’s stock.

Iradimed Trading Up 0.9 %

Shares of IRMD stock opened at $42.90 on Friday. The business’s 50-day moving average price is $42.53 and its 200-day moving average price is $43.57. Iradimed Corporation has a 12 month low of $36.12 and a 12 month high of $50.85. The firm has a market capitalization of $543.29 million, a price-to-earnings ratio of 30.43 and a beta of 0.80.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Iradimed had a return on equity of 24.63% and a net margin of 26.48%. The firm had revenue of $17.60 million for the quarter, compared to analyst estimates of $17.26 million. On average, sell-side analysts predict that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, May 17th. Iradimed’s dividend payout ratio is currently 42.55%.

Analysts Set New Price Targets

A number of research analysts have issued reports on IRMD shares. Roth Capital reiterated a “buy” rating on shares of Iradimed in a research report on Monday, April 22nd. Roth Mkm reiterated a “buy” rating and issued a $65.00 target price on shares of Iradimed in a research report on Monday, April 22nd. Finally, Singular Research reiterated a “buy” rating on shares of Iradimed in a research report on Monday, April 1st.

Iradimed Company Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.