Alliancebernstein L.P. Has $585,000 Holdings in Iradimed Corporation (NASDAQ:IRMD)

Alliancebernstein L.P. decreased its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,632 shares of the medical equipment provider’s stock after selling 698 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Iradimed worth $585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new stake in Iradimed during the 4th quarter worth $30,000. US Bancorp DE grew its stake in shares of Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 510 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Iradimed during the third quarter worth $126,000. Avantax Advisory Services Inc. acquired a new position in Iradimed in the fourth quarter valued at about $217,000. Finally, Silver Coast Investments LLC bought a new position in Iradimed during the fourth quarter worth about $236,000. 92.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IRMD. Roth Mkm reaffirmed a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com downgraded shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th.

Iradimed Trading Down 0.4 %

IRMD stock opened at $51.77 on Friday. Iradimed Corporation has a 1-year low of $40.55 and a 1-year high of $63.29. The business’s 50-day moving average price is $53.04 and its two-hundred day moving average price is $54.14. The firm has a market cap of $658.26 million, a PE ratio of 34.51 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share 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 for the quarter, compared to the consensus estimate of $19.09 million. On average, analysts forecast that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. Iradimed’s dividend payout ratio (DPR) is presently 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.