Iradimed Corporation (NASDAQ:IRMD) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,212 shares of the medical equipment provider’s stock after selling 13,032 shares during the period. Renaissance Technologies LLC owned about 4.42% of Iradimed worth $24,616,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. RK Capital Management LLC lifted its stake in Iradimed by 13.2% during the 4th quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after acquiring an additional 39,600 shares in the last quarter. Bares Capital Management Inc. lifted its stake in Iradimed by 0.7% during the 1st quarter. Bares Capital Management Inc. now owns 279,000 shares of the medical equipment provider’s stock worth $12,273,000 after acquiring an additional 2,000 shares in the last quarter. Ranger Investment Management L.P. lifted its stake in Iradimed by 5.4% during the 4th quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after acquiring an additional 11,465 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Iradimed by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock worth $9,620,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in Iradimed by 8.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 97,400 shares of the medical equipment provider’s stock worth $4,285,000 after purchasing an additional 7,680 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Iradimed Price Performance

Shares of NASDAQ IRMD opened at $49.23 on Friday. The stock’s 50-day moving average is $46.04 and its two-hundred day moving average is $44.02. Iradimed Corporation has a 1-year low of $36.12 and a 1-year high of $50.93. The company has a market cap of $623.45 million, a price-to-earnings ratio of 34.91 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results 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 company had revenue of $17.93 million for the quarter, compared to the consensus estimate of $17.70 million. During the same quarter in the prior year, the business earned $0.33 EPS. Equities research analysts anticipate that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Iradimed’s payout ratio is currently 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.