Iradimed Corporation (NASDAQ:IRMD) Stake Raised by Bridge City Capital LLC

Bridge City Capital LLC lifted its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,899 shares of the medical equipment provider’s stock after buying an additional 462 shares during the period. Bridge City Capital LLC owned approximately 0.49% of Iradimed worth $3,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Iradimed during the 4th quarter worth $30,000. US Bancorp DE lifted its holdings in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 510 shares during the period. Quantbot Technologies LP lifted its holdings in Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 1,052 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Iradimed in the 3rd quarter valued at about $126,000. Finally, Avantax Advisory Services Inc. acquired a new position in Iradimed during the 4th quarter valued at about $217,000. 92.34% of the stock is owned by institutional investors.

Iradimed Trading Down 0.3 %

Shares of NASDAQ IRMD opened at $52.33 on Friday. The firm has a 50-day moving average of $56.60 and a two-hundred day moving average of $53.63. The company has a market capitalization of $665.38 million, a price-to-earnings ratio of 34.89 and a beta of 0.83. Iradimed Corporation has a twelve month low of $40.18 and a twelve month high of $63.29.

Iradimed (NASDAQ:IRMD) last issued its 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 return on equity of 24.12% and a net margin of 26.26%. As a group, research analysts predict that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. This is a boost from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s dividend payout ratio (DPR) is currently 45.33%.

Analyst Upgrades and Downgrades

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

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.