Uniplan Investment Counsel Inc. Makes New Investment in Iradimed Corporation (NASDAQ:IRMD)

Uniplan Investment Counsel Inc. 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 32,540 shares of the medical equipment provider’s stock, valued at approximately $1,790,000. Uniplan Investment Counsel Inc. owned 0.26% of Iradimed at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Iradimed during the 4th quarter worth about $30,000. US Bancorp DE lifted its holdings in shares of Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 510 shares in the last quarter. Huntington National Bank grew its holdings in shares of Iradimed by 34.0% during the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock valued at $110,000 after buying an additional 506 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Iradimed during the third quarter valued at $126,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Iradimed in the 4th quarter worth about $217,000. 92.34% of the stock is owned by institutional investors.

Iradimed Stock Performance

NASDAQ:IRMD opened at $50.78 on Tuesday. The company has a market capitalization of $645.67 million, a P/E ratio of 33.85 and a beta of 0.82. The stock’s 50 day moving average price is $52.85 and its 200 day moving average price is $54.18. Iradimed Corporation has a 52 week low of $40.55 and a 52 week high of $63.29.

Iradimed (NASDAQ:IRMD) last released its quarterly 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 the consensus estimate of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. As a group, sell-side analysts forecast that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.17 dividend. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.34%. The ex-dividend date was Monday, February 24th. Iradimed’s payout ratio is 45.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IRMD shares. StockNews.com lowered shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Roth Mkm restated a “buy” rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

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.