Algert Global LLC Buys 12,227 Shares of Iradimed Corporation (NASDAQ:IRMD)

Algert Global LLC boosted its holdings in Iradimed Corporation (NASDAQ:IRMD) by 84.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,774 shares of the medical equipment provider’s stock after purchasing an additional 12,227 shares during the quarter. Algert Global LLC owned about 0.21% of Iradimed worth $1,176,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IRMD. Ranger Investment Management L.P. grew its stake in Iradimed by 5.4% in the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock valued at $10,615,000 after acquiring an additional 11,465 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Iradimed during the first quarter valued at approximately $476,000. Sequoia Financial Advisors LLC purchased a new position in shares of Iradimed during the second quarter valued at approximately $568,000. Liontrust Investment Partners LLP purchased a new position in shares of Iradimed during the second quarter valued at approximately $2,830,000. Finally, ClariVest Asset Management LLC boosted its position in shares of Iradimed by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 17,666 shares of the medical equipment provider’s stock valued at $776,000 after buying an additional 494 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm cut their target price on Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Iradimed Trading Up 1.3 %

IRMD stock opened at $49.82 on Friday. The stock’s fifty day simple moving average is $46.66 and its two-hundred day simple moving average is $44.44. Iradimed Corporation has a 1-year low of $36.12 and a 1-year high of $50.93. The stock has a market cap of $630.92 million, a P/E ratio of 35.33 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, analysts forecast that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Iradimed’s payout ratio is presently 42.55%.

Iradimed 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.