Barclays PLC Boosts Stake in Iradimed Corporation (NASDAQ:IRMD)

Barclays PLC increased its stake in Iradimed Corporation (NASDAQ:IRMD) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,116 shares of the medical equipment provider’s stock after acquiring an additional 1,342 shares during the period. Barclays PLC owned about 0.20% of Iradimed worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IRMD. R Squared Ltd purchased a new position in shares of Iradimed in the 4th quarter worth about $30,000. US Bancorp DE boosted its stake in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 510 shares in the last quarter. Huntington National Bank grew its position in Iradimed by 34.0% during the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock valued at $110,000 after acquiring an additional 506 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Iradimed during the third quarter worth approximately $126,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Iradimed in the 4th quarter worth approximately $217,000. Institutional investors own 92.34% of the company’s stock.

Analyst Upgrades and Downgrades

IRMD has been the topic of a number of analyst reports. StockNews.com upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. Roth Mkm reiterated a “buy” rating and issued a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Stock Performance

Shares of Iradimed stock opened at $53.47 on Friday. Iradimed Corporation has a 52-week low of $41.60 and a 52-week high of $63.29. The company’s 50 day moving average price is $52.33 and its 200-day moving average price is $54.35. The stock has a market capitalization of $679.87 million, a price-to-earnings ratio of 35.65 and a beta of 0.91.

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

Iradimed Increases Dividend

The firm also recently announced 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 1.27%. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s dividend payout ratio is currently 45.33%.

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.