Rhumbline Advisers Purchases 6,062 Shares of Iradimed Corporation (NASDAQ:IRMD)

Rhumbline Advisers increased its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 46.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,252 shares of the medical equipment provider’s stock after acquiring an additional 6,062 shares during the period. Rhumbline Advisers owned approximately 0.15% of Iradimed worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new stake in Iradimed during the 4th quarter worth approximately $30,000. Huntington National Bank increased its holdings in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after buying an additional 504 shares during the last quarter. Gladius Capital Management LP increased its holdings in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after buying an additional 965 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Iradimed by 83.0% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Iradimed in the 3rd quarter worth $126,000. Institutional investors own 92.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on IRMD. StockNews.com lowered shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Roth Mkm reaffirmed a “buy” rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Stock Down 0.3 %

Shares of Iradimed stock opened at $53.10 on Thursday. The firm has a market cap of $672.94 million, a PE ratio of 35.40 and a beta of 0.82. Iradimed Corporation has a 12-month low of $40.18 and a 12-month high of $63.29. The company’s fifty day simple moving average is $57.50 and its two-hundred day simple moving average is $53.10.

Iradimed (NASDAQ:IRMD) last announced its quarterly 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). The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. As a group, sell-side analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The business 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. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Iradimed’s payout ratio 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.