Semanteon Capital Management LP Makes New $331,000 Investment in Iradimed Corporation (NASDAQ:IRMD)

Semanteon Capital Management LP bought a new position in shares of Iradimed Corporation (NASDAQ:IRMD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,576 shares of the medical equipment provider’s stock, valued at approximately $331,000.

Several other institutional investors also recently modified their holdings of the stock. Shaker Investments LLC OH boosted its stake in shares of Iradimed by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 20,605 shares of the medical equipment provider’s stock valued at $905,000 after purchasing an additional 347 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in Iradimed by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 17,666 shares of the medical equipment provider’s stock worth $776,000 after buying an additional 494 shares during the last quarter. Cim LLC grew 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 valued at $464,000 after buying an additional 561 shares during the last quarter. Kings Path Partners LLC increased its holdings in Iradimed by 2.3% during the 3rd quarter. Kings Path Partners LLC now owns 24,570 shares of the medical equipment provider’s stock worth $1,236,000 after purchasing an additional 562 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Iradimed during the second quarter worth $25,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Stock Performance

Shares of IRMD stock opened at $52.03 on Tuesday. The firm’s 50-day simple moving average is $48.36 and its two-hundred day simple moving average is $45.25. Iradimed Corporation has a 52 week low of $38.99 and a 52 week high of $52.45. The firm has a market cap of $658.91 million, a price-to-earnings ratio of 36.79 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. The company had revenue of $17.93 million for the quarter, compared to analyst estimates of $17.70 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Analysts forecast 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. Investors of record on Tuesday, August 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Iradimed’s dividend payout ratio is currently 42.55%.

Analysts Set New Price Targets

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

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.