Iradimed Corporation (NASDAQ:IRMD) Position Boosted by Magnetar Financial LLC

Magnetar Financial LLC raised its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 129.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,202 shares of the medical equipment provider’s stock after acquiring an additional 6,312 shares during the quarter. Magnetar Financial LLC owned approximately 0.09% of Iradimed worth $616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IRMD. Copeland Capital Management LLC grew its stake in shares of Iradimed by 12.6% in 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 buying an additional 53,138 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Iradimed by 94.1% in 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 buying an additional 48,534 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Iradimed by 189.7% in 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 buying an additional 43,635 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Iradimed in the 4th quarter valued at approximately $2,319,000. Finally, Eagle Asset Management Inc. bought a new stake in shares of Iradimed in the 3rd quarter valued at approximately $1,239,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRMD. StockNews.com cut Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Roth Mkm reaffirmed a “buy” rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

Iradimed Stock Down 0.3 %

Shares of Iradimed stock opened at $52.33 on Friday. The stock has a market capitalization of $665.38 million, a P/E ratio of 34.89 and a beta of 0.83. The stock has a 50 day moving average price of $56.60 and a two-hundred day moving average price of $53.58. Iradimed Corporation has a 12-month low of $40.18 and a 12-month high of $63.29.

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

Iradimed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, February 24th. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. Iradimed’s 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.