Zacks Investment Management Invests $248,000 in Iradimed Corporation (NASDAQ:IRMD)

Zacks Investment Management purchased a new position in shares of Iradimed Corporation (NASDAQ:IRMD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,500 shares of the medical equipment provider’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Iradimed by 5.6% during the 4th quarter. Barclays PLC now owns 25,116 shares of the medical equipment provider’s stock worth $1,382,000 after purchasing an additional 1,342 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new position in Iradimed during the fourth quarter valued at approximately $288,000. Bessemer Group Inc. lifted its stake in Iradimed by 9.6% in the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider’s stock valued at $228,000 after acquiring an additional 362 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Iradimed in the fourth quarter worth approximately $2,319,000. Finally, Invesco Ltd. bought a new position in shares of Iradimed during the 4th quarter valued at $254,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Roth Mkm reissued a “buy” rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Trading Down 0.4 %

Shares of Iradimed stock opened at $51.77 on Monday. Iradimed Corporation has a 1-year low of $40.55 and a 1-year high of $63.29. The firm has a fifty day simple moving average of $53.04 and a 200-day simple moving average of $54.18. The stock has a market capitalization of $658.26 million, a price-to-earnings ratio of 34.51 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last issued its quarterly 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 net margin of 26.26% and a return on equity of 24.12%. The business had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. As a group, research analysts predict that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. This is a boost from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed’s dividend payout ratio is currently 45.33%.

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.