Marshall Wace LLP Makes New Investment in Iradimed Corporation (NASDAQ:IRMD)

Marshall Wace LLP acquired a new position in shares of Iradimed Corporation (NASDAQ:IRMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,531 shares of the medical equipment provider’s stock, valued at approximately $463,000. Marshall Wace LLP owned approximately 0.08% of Iradimed at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Iradimed during the 2nd quarter valued at $25,000. Comerica Bank raised its holdings in shares of Iradimed by 2,151.6% in the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 1,377 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Iradimed during the 1st quarter worth about $150,000. Bessemer Group Inc. acquired a new stake in Iradimed in the 1st quarter valued at about $183,000. Finally, Bailard Inc. acquired a new stake in Iradimed in the 2nd quarter valued at about $202,000. Institutional investors own 92.34% of the company’s stock.

Iradimed Stock Down 0.6 %

IRMD stock opened at $49.09 on Friday. Iradimed Corporation has a twelve month low of $36.12 and a twelve month high of $50.93. The company has a market cap of $621.68 million, a P/E ratio of 34.82 and a beta of 0.79. The business has a fifty day moving average of $46.87 and a 200-day moving average of $44.58.

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

Iradimed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.15 per share. 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 dividend payout ratio is 42.55%.

Wall Street Analyst Weigh In

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

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.