Oak Ridge Investments LLC Buys New Shares in Iradimed Corporation (NASDAQ:IRMD)

Oak Ridge Investments LLC purchased a new stake in Iradimed Corporation (NASDAQ:IRMD) during the third quarter, according to its most recent filing with the SEC. The fund purchased 43,499 shares of the medical equipment provider’s stock, valued at approximately $2,188,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of IRMD. 1620 Investment Advisors Inc. bought a new stake in Iradimed in the 2nd quarter valued at $25,000. Isthmus Partners LLC increased its holdings in Iradimed by 1.1% in the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 759 shares during the last quarter. Comerica Bank increased its holdings in Iradimed by 2,151.6% in the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 1,377 shares during the last quarter. SG Americas Securities LLC bought a new stake in Iradimed in the 3rd quarter valued at $147,000. Finally, EntryPoint Capital LLC bought a new stake in Iradimed in the 1st quarter valued at $150,000. 92.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Iradimed Stock Down 6.9 %

Iradimed stock opened at $49.27 on Friday. The company’s 50-day moving average price is $48.84 and its 200-day moving average price is $45.45. Iradimed Corporation has a twelve month low of $39.24 and a twelve month high of $53.99. The company has a market cap of $624.25 million, a PE ratio of 33.75 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. The firm had revenue of $17.93 million for the quarter, compared to the consensus estimate of $17.70 million. During the same period in the previous year, the firm posted $0.33 EPS. As a group, sell-side analysts expect that Iradimed Corporation will post 1.47 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Iradimed’s dividend payout ratio (DPR) is presently 41.10%.

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.