Isthmus Partners LLC Raises Holdings in Iradimed Corporation (NASDAQ:IRMD)

Isthmus Partners LLC raised its position in Iradimed Corporation (NASDAQ:IRMD) by 1.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 72,664 shares of the medical equipment provider’s stock after purchasing an additional 759 shares during the period. Isthmus Partners LLC’s holdings in Iradimed were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in shares of Iradimed in the fourth quarter worth about $415,000. RK Capital Management LLC lifted its stake in Iradimed by 13.2% in the 4th quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after purchasing an additional 39,600 shares in the last quarter. Aristides Capital LLC boosted its holdings in shares of Iradimed by 7.3% during the 4th quarter. Aristides Capital LLC now owns 9,873 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 673 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of Iradimed by 5.4% during the 4th quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after purchasing an additional 11,465 shares during the last quarter. Finally, Cim LLC purchased a new stake in shares of Iradimed in the fourth quarter valued at approximately $449,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price objective on Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Iradimed Stock Down 2.5 %

NASDAQ:IRMD traded down $1.13 on Friday, hitting $44.89. The stock had a trading volume of 45,257 shares, compared to its average volume of 51,308. The company has a fifty day moving average price of $45.37 and a two-hundred day moving average price of $43.69. Iradimed Corporation has a 1-year low of $36.12 and a 1-year high of $50.93. The stock has a market cap of $568.49 million, a price-to-earnings ratio of 31.84 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, analysts anticipate that Iradimed Corporation will post 1.41 earnings per share for the current year.

Iradimed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. Iradimed’s payout ratio is currently 42.55%.

Iradimed Company 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.