Copeland Capital Management LLC Grows Position in Iradimed Corporation (NASDAQ:IRMD)

Copeland Capital Management LLC grew its stake in Iradimed Corporation (NASDAQ:IRMD) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 422,425 shares of the medical equipment provider’s stock after buying an additional 1,433 shares during the period. Copeland Capital Management LLC’s holdings in Iradimed were worth $21,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Shaker Investments LLC OH raised its stake in Iradimed by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 20,605 shares of the medical equipment provider’s stock worth $905,000 after acquiring an additional 347 shares during the last quarter. ClariVest Asset Management LLC raised its stake in shares of Iradimed by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 17,666 shares of the medical equipment provider’s stock worth $776,000 after purchasing an additional 494 shares during the last quarter. Cim LLC lifted its holdings in shares of Iradimed by 5.9% during the second quarter. Cim LLC now owns 10,089 shares of the medical equipment provider’s stock worth $464,000 after purchasing an additional 561 shares during the period. Kings Path Partners LLC boosted its position in Iradimed by 2.3% in the third quarter. Kings Path Partners LLC now owns 24,570 shares of the medical equipment provider’s stock valued at $1,236,000 after buying an additional 562 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Iradimed in the 2nd quarter worth approximately $25,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Stock Performance

NASDAQ:IRMD opened at $51.22 on Tuesday. The firm’s fifty day moving average is $47.86 and its two-hundred day moving average is $45.00. The firm has a market cap of $648.65 million, a price-to-earnings ratio of 36.33 and a beta of 0.79. Iradimed Corporation has a one year low of $37.51 and a one year high of $52.45.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $17.93 million for the quarter, compared to the consensus estimate of $17.70 million. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts predict that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.17%. Iradimed’s payout ratio is 42.55%.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price objective on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

Iradimed 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.