Proficio Capital Partners LLC Makes New $926,000 Investment in Iradimed Corporation (NASDAQ:IRMD)

Proficio Capital Partners LLC acquired a new position in shares of Iradimed Corporation (NASDAQ:IRMD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,830 shares of the medical equipment provider’s stock, valued at approximately $926,000. Proficio Capital Partners LLC owned 0.13% of Iradimed as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Copeland Capital Management LLC boosted its stake in Iradimed by 12.6% during the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock valued at $26,156,000 after acquiring an additional 53,138 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Iradimed by 94.1% during the 4th quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider’s stock valued at $5,506,000 after acquiring an additional 48,534 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after acquiring an additional 43,635 shares during the last quarter. Algert Global LLC boosted its stake in Iradimed by 16.4% during the 3rd quarter. Algert Global LLC now owns 31,158 shares of the medical equipment provider’s stock valued at $1,567,000 after acquiring an additional 4,384 shares during the last quarter. Finally, Shaker Investments LLC OH boosted its stake in Iradimed by 0.8% during the 4th quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after acquiring an additional 233 shares during the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Roth Mkm reiterated a “buy” rating and set a $72.00 price objective (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th.

Iradimed Stock Performance

Shares of NASDAQ:IRMD opened at $52.21 on Friday. The stock has a market capitalization of $661.66 million, a price-to-earnings ratio of 34.81 and a beta of 0.83. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29. The company’s fifty day moving average is $57.38 and its two-hundred day moving average is $53.21.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). The business had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. Sell-side analysts expect that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The firm 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed’s dividend payout ratio is 45.33%.

Iradimed 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.