Aristides Capital LLC Increases Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Aristides Capital LLC increased its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 62.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,925 shares of the medical equipment provider’s stock after purchasing an additional 11,452 shares during the period. Aristides Capital LLC owned approximately 0.24% of Iradimed worth $1,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IRMD. Charles Schwab Investment Management Inc. grew its position in Iradimed by 189.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock worth $3,351,000 after purchasing an additional 43,635 shares during the period. Quantbot Technologies LP grew its holdings in shares of 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 acquiring an additional 1,052 shares during the period. BNP Paribas Financial Markets increased its position in Iradimed by 39.6% during the third quarter. BNP Paribas Financial Markets now owns 20,661 shares of the medical equipment provider’s stock valued at $1,039,000 after acquiring an additional 5,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Iradimed in the third quarter valued at about $250,000. Finally, Walleye Capital LLC purchased a new position in Iradimed in the third quarter worth about $361,000. Institutional investors own 92.34% of the company’s stock.

Iradimed Stock Performance

NASDAQ:IRMD opened at $49.92 on Friday. The stock has a 50-day simple moving average of $55.31 and a two-hundred day simple moving average of $54.02. The firm has a market capitalization of $634.73 million, a PE ratio of 33.28 and a beta of 0.82. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The firm had revenue of $19.39 million during the quarter, compared to analysts’ expectations of $19.09 million. Equities analysts forecast that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.17 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a yield of 1.36%. This is an increase from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s dividend payout ratio is currently 45.33%.

Analyst Upgrades and Downgrades

IRMD has been the topic of several recent research reports. StockNews.com cut shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Roth Mkm reiterated a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

Iradimed Company 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.