Principal Financial Group Inc. Purchases New Stake in Iradimed Corporation (NASDAQ:IRMD)

Principal Financial Group Inc. acquired a new position in shares of Iradimed Corporation (NASDAQ:IRMD) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,894 shares of the medical equipment provider’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. acquired a new position in Iradimed in the first quarter worth about $183,000. Comerica Bank grew its position in shares of Iradimed by 2,151.6% in the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 1,377 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Iradimed in the 2nd quarter valued at approximately $568,000. 1620 Investment Advisors Inc. bought a new stake in shares of Iradimed in the 2nd quarter valued at approximately $25,000. Finally, Bank of New York Mellon Corp lifted its stake in Iradimed by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 57,971 shares of the medical equipment provider’s stock worth $2,547,000 after purchasing an additional 4,363 shares during the last quarter. Institutional investors own 92.34% of the company’s stock.

Analyst Ratings Changes

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

Iradimed Stock Up 0.3 %

Shares of NASDAQ IRMD opened at $53.39 on Tuesday. The firm’s 50-day moving average price is $51.12 and its two-hundred day moving average price is $46.81. Iradimed Corporation has a 52-week low of $40.05 and a 52-week high of $57.95. The stock has a market capitalization of $676.45 million, a P/E ratio of 36.46 and a beta of 0.79.

Iradimed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, November 15th. Iradimed’s dividend payout ratio (DPR) is 41.10%.

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.