Voleon Capital Management LP Makes New Investment in Iradimed Corporation (NASDAQ:IRMD)

Voleon Capital Management LP acquired a new stake in Iradimed Corporation (NASDAQ:IRMD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,616 shares of the medical equipment provider’s stock, valued at approximately $804,000. Voleon Capital Management LP owned approximately 0.12% of Iradimed as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. R Squared Ltd bought a new stake in Iradimed in the fourth quarter valued at about $30,000. US Bancorp DE grew its stake in shares of Iradimed by 476.6% in the 4th 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 during the period. Huntington National Bank raised its holdings in shares of Iradimed by 34.0% in the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock worth $110,000 after buying an additional 506 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Iradimed in the 3rd quarter worth approximately $126,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of Iradimed during the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Price Performance

Shares of IRMD opened at $52.94 on Friday. The company has a market capitalization of $673.13 million, a P/E ratio of 35.29 and a beta of 0.82. Iradimed Corporation has a one year low of $41.60 and a one year high of $63.29. The business’s 50 day simple moving average is $52.35 and its 200-day simple moving average is $54.31.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $19.09 million. On average, sell-side analysts anticipate that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.17 per share. This is a boost from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, February 24th. Iradimed’s dividend payout ratio is 45.33%.

Analysts Set New Price Targets

Several research firms have issued reports on IRMD. 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. StockNews.com upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th.

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.