Iradimed Corporation (NASDAQ:IRMD) Shares Purchased by Summit Global Investments

Summit Global Investments raised its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,088 shares of the medical equipment provider’s stock after buying an additional 1,300 shares during the period. Summit Global Investments’ holdings in Iradimed were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of IRMD. Vanguard Group Inc. grew its position in Iradimed by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 412,151 shares of the medical equipment provider’s stock valued at $18,287,000 after acquiring an additional 10,932 shares in the last quarter. RK Capital Management LLC increased its stake in Iradimed by 4.4% during the 3rd quarter. RK Capital Management LLC now owns 300,800 shares of the medical equipment provider’s stock worth $13,346,000 after buying an additional 12,700 shares during the period. Russell Investments Group Ltd. lifted its holdings in Iradimed by 2.3% during the 4th quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock worth $10,030,000 after buying an additional 4,715 shares in the last quarter. Resource Consulting Group Inc. purchased a new position in Iradimed in the 4th quarter valued at approximately $4,889,000. Finally, Rice Hall James & Associates LLC boosted its position in Iradimed by 20.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 77,506 shares of the medical equipment provider’s stock valued at $3,439,000 after buying an additional 12,960 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Singular Research reaffirmed a “buy” rating on shares of Iradimed in a research report on Monday, April 1st. Roth Mkm restated a “buy” rating and set a $65.00 price target on shares of Iradimed in a report on Monday, April 22nd. Finally, Roth Capital reiterated a “buy” rating on shares of Iradimed in a research note on Monday, April 22nd.

Iradimed Trading Up 1.9 %

Shares of IRMD opened at $44.70 on Monday. The firm’s fifty day simple moving average is $42.62 and its 200-day simple moving average is $43.20. The firm has a market capitalization of $565.90 million, a price-to-earnings ratio of 31.70 and a beta of 0.86. Iradimed Corporation has a twelve month low of $36.12 and a twelve month high of $51.04.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $17.45 million for the quarter. Iradimed had a return on equity of 24.63% and a net margin of 26.48%. On average, analysts predict that Iradimed Corporation will post 1.39 earnings per share for the current fiscal year.

Iradimed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.60 annualized dividend and a yield of 1.34%. Iradimed’s dividend payout ratio is currently 42.55%.

Iradimed 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.