AQR Capital Management LLC Takes $371,000 Position in Iradimed Corporation (NASDAQ:IRMD)

AQR Capital Management LLC purchased a new position in Iradimed Corporation (NASDAQ:IRMD) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,436 shares of the medical equipment provider’s stock, valued at approximately $371,000. AQR Capital Management LLC owned approximately 0.07% of Iradimed at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its holdings in shares of Iradimed by 75.0% in the second quarter. Squarepoint Ops LLC now owns 21,795 shares of the medical equipment provider’s stock worth $958,000 after buying an additional 9,343 shares during the period. Marshall Wace LLP acquired a new position in Iradimed in the 2nd quarter worth approximately $463,000. Magnetar Financial LLC purchased a new position in Iradimed during the 2nd quarter worth approximately $284,000. Sei Investments Co. raised its stake in Iradimed by 59.5% during the 2nd quarter. Sei Investments Co. now owns 10,447 shares of the medical equipment provider’s stock valued at $459,000 after purchasing an additional 3,896 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Iradimed during the 2nd quarter valued at $265,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm lowered 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 IRMD opened at $50.35 on Wednesday. The business’s 50-day moving average is $47.11 and its 200-day moving average is $44.70. The company has a market capitalization of $637.63 million, a price-to-earnings ratio of 35.72 and a beta of 0.79. Iradimed Corporation has a fifty-two week low of $36.12 and a fifty-two week high of $51.07.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. The firm 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 company posted $0.33 earnings per share. Equities research analysts expect that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued 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 yield of 1.19%. Iradimed’s dividend payout ratio is 42.55%.

About Iradimed

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.