Lazard Asset Management LLC Has $1.83 Million Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Lazard Asset Management LLC raised its stake in Iradimed Corporation (NASDAQ:IRMD) by 35.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,292 shares of the medical equipment provider’s stock after acquiring an additional 8,773 shares during the quarter. Lazard Asset Management LLC owned about 0.26% of Iradimed worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Shaker Investments LLC OH grew its stake in shares of Iradimed by 0.8% during the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after purchasing an additional 233 shares during the last quarter. Bessemer Group Inc. boosted its position in Iradimed by 9.6% in the 4th quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider’s stock valued at $228,000 after buying an additional 362 shares during the last quarter. Bridge City Capital LLC increased its stake in shares of Iradimed by 0.8% in the 4th quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock valued at $3,404,000 after buying an additional 462 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Iradimed by 2.3% in the 4th quarter. BNP Paribas Financial Markets now owns 21,138 shares of the medical equipment provider’s stock valued at $1,163,000 after buying an additional 477 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Iradimed by 11.4% during the fourth quarter. MetLife Investment Management LLC now owns 4,845 shares of the medical equipment provider’s stock worth $266,000 after acquiring an additional 494 shares during the last quarter. 92.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Mkm reiterated a “buy” rating and issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th.

Iradimed Stock Up 0.1%

IRMD stock opened at $53.91 on Friday. Iradimed Corporation has a twelve month low of $41.69 and a twelve month high of $63.29. The company has a market cap of $685.47 million, a P/E ratio of 35.94 and a beta of 0.91. The business’s fifty day moving average is $52.17 and its 200-day moving average is $54.42.

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

Iradimed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 20th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Iradimed’s dividend payout ratio is 43.87%.

About Iradimed

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.