Los Angeles Capital Management LLC Decreases Stock Holdings in Iradimed Corporation (NASDAQ:IRMD)

Los Angeles Capital Management LLC cut its stake in Iradimed Corporation (NASDAQ:IRMD) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,063 shares of the medical equipment provider’s stock after selling 6,000 shares during the period. Los Angeles Capital Management LLC owned approximately 0.31% of Iradimed worth $2,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Iradimed during the 4th quarter worth $30,000. Huntington National Bank increased its holdings in Iradimed by 51.3% during the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after acquiring an additional 504 shares in the last quarter. Gladius Capital Management LP raised its position in Iradimed by 126.6% during the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after acquiring an additional 965 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Iradimed in the third quarter valued at approximately $126,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO John Glenn sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 37.10% of the stock is currently owned by company insiders.

Iradimed Price Performance

Shares of NASDAQ IRMD opened at $53.91 on Friday. The company has a 50-day simple moving average of $57.55 and a 200-day simple moving average of $52.79. The company has a market cap of $683.20 million, a PE ratio of 35.94 and a beta of 0.82. Iradimed Corporation has a 12 month low of $40.18 and a 12 month high of $63.29.

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

Iradimed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.26%. Iradimed’s dividend payout ratio is 45.33%.

Analysts Set New Price Targets

Several brokerages recently issued reports on IRMD. Roth Mkm restated a “buy” rating and set a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com raised Iradimed from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st.

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.