Northern Trust Corp Raises Stock Holdings in Iradimed Corporation (NASDAQ:IRMD)

Northern Trust Corp lifted its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,069 shares of the medical equipment provider’s stock after purchasing an additional 9,722 shares during the quarter. Northern Trust Corp owned about 1.13% of Iradimed worth $7,869,000 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. Shaker Investments LLC OH grew its position in Iradimed by 0.8% in the 4th quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after buying an additional 233 shares during the last quarter. Bessemer Group Inc. grew its position in Iradimed by 9.6% in the 4th quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider’s stock valued at $228,000 after buying an additional 362 shares during the last quarter. Bridge City Capital LLC grew its position in Iradimed by 0.8% in the 4th quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock valued at $3,404,000 after buying an additional 462 shares during the last quarter. MetLife Investment Management LLC grew its position in Iradimed by 11.4% in the 4th quarter. MetLife Investment Management LLC now owns 4,845 shares of the medical equipment provider’s stock valued at $266,000 after buying an additional 494 shares during the last quarter. Finally, Huntington National Bank grew its position in Iradimed by 34.0% in the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock valued at $110,000 after buying an additional 506 shares during the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRMD has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com upgraded Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th.

Iradimed Stock Performance

NASDAQ:IRMD opened at $53.91 on Monday. The stock has a fifty day moving average price of $52.17 and a two-hundred day moving average price of $54.45. The stock has a market capitalization of $685.47 million, a price-to-earnings ratio of 35.94 and a beta of 0.91. Iradimed Corporation has a 1 year low of $41.69 and a 1 year high of $63.29.

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

Iradimed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, May 20th. Iradimed’s payout ratio is 43.87%.

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.