Ballast Asset Management LP Sells 1,388 Shares of Iradimed Corporation (NASDAQ:IRMD)

Ballast Asset Management LP lessened its position in Iradimed Corporation (NASDAQ:IRMD) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,320 shares of the medical equipment provider’s stock after selling 1,388 shares during the period. Ballast Asset Management LP owned 0.32% of Iradimed worth $2,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Iradimed in the fourth quarter worth about $30,000. US Bancorp DE lifted its holdings in Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 510 shares during the period. Quantbot Technologies LP grew its position in shares of Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed in the 3rd quarter worth approximately $126,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Iradimed during the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Stock Up 0.1 %

IRMD opened at $52.48 on Tuesday. Iradimed Corporation has a 52 week low of $40.18 and a 52 week high of $63.29. The stock has a market cap of $667.28 million, a PE ratio of 34.99 and a beta of 0.83. The business has a 50 day moving average of $55.95 and a 200-day moving average of $53.96.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data 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). The firm had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. Equities 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 was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.17 per share. This is an increase from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. Iradimed’s dividend payout ratio (DPR) is currently 45.33%.

Analysts Set New Price Targets

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

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.