Iradimed Corporation (NASDAQ:IRMD) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 59.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,483 shares of the medical equipment provider’s stock after acquiring an additional 17,257 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of Iradimed worth $2,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Iradimed by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after buying an additional 22,762 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Iradimed by 12.6% in the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock worth $26,156,000 after acquiring an additional 53,138 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Iradimed by 94.1% during the fourth quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider’s stock worth $5,506,000 after purchasing an additional 48,534 shares during the period. Bridge City Capital LLC lifted its holdings in shares of Iradimed by 0.8% during the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock valued at $3,404,000 after purchasing an additional 462 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Iradimed in the 4th quarter valued at $2,319,000. 92.34% of the stock is currently owned by institutional investors.

Iradimed Trading Up 2.6 %

Shares of IRMD stock opened at $52.09 on Wednesday. The company has a market capitalization of $662.32 million, a price-to-earnings ratio of 34.73 and a beta of 0.82. Iradimed Corporation has a 1-year low of $40.55 and a 1-year high of $63.29. The stock’s fifty day simple moving average is $52.78 and its 200-day simple moving average is $54.17.

Iradimed (NASDAQ:IRMD) last released its earnings results 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). The business had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. On average, sell-side analysts predict that Iradimed Corporation will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, February 24th. 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. Iradimed’s dividend payout ratio (DPR) is 45.33%.

Analysts Set New Price Targets

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

About Iradimed

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.