Bank of New York Mellon Corp Has $5.51 Million Position in Iradimed Corporation (NASDAQ:IRMD)

Bank of New York Mellon Corp lifted its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 94.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,108 shares of the medical equipment provider’s stock after buying an additional 48,534 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Iradimed worth $5,506,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Iradimed by 189.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after purchasing an additional 43,635 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Iradimed in the third quarter valued at approximately $1,239,000. JPMorgan Chase & Co. lifted its position in shares of Iradimed by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock valued at $1,470,000 after buying an additional 12,051 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Iradimed by 11.2% in the fourth quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock valued at $299,000 after buying an additional 546 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Iradimed by 113.9% during the third quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after purchasing an additional 12,657 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.

Iradimed Stock Performance

Shares of IRMD opened at $52.45 on Monday. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29. The business’s fifty day moving average is $57.09 and its 200-day moving average is $53.48. The firm has a market cap of $666.90 million, a price-to-earnings ratio of 34.97 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share 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 firm had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. As a group, research analysts forecast that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.30%. Iradimed’s payout ratio is presently 45.33%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Roth Mkm reiterated a “buy” rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com lowered Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

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.