BNP Paribas Financial Markets Buys 477 Shares of Iradimed Corporation (NASDAQ:IRMD)

BNP Paribas Financial Markets lifted its stake in Iradimed Corporation (NASDAQ:IRMD) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,138 shares of the medical equipment provider’s stock after purchasing an additional 477 shares during the period. BNP Paribas Financial Markets owned about 0.17% of Iradimed worth $1,163,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Iradimed in the fourth quarter worth about $30,000. US Bancorp DE grew its holdings in shares of 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 purchasing an additional 510 shares during the last quarter. Huntington National Bank grew its holdings in shares of Iradimed by 34.0% in the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock worth $110,000 after purchasing an additional 506 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Iradimed in the fourth quarter worth about $217,000. Finally, Bessemer Group Inc. grew its holdings in shares of Iradimed by 9.6% in the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider’s stock worth $228,000 after purchasing an additional 362 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Roth Mkm restated a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 6th.

Iradimed Price Performance

Shares of Iradimed stock opened at $54.21 on Tuesday. Iradimed Corporation has a 1 year low of $41.69 and a 1 year high of $63.29. The firm’s 50-day moving average is $52.20 and its two-hundred day moving average is $54.49. The stock has a market cap of $689.28 million, a price-to-earnings ratio of 36.14 and a beta of 0.91.

Iradimed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, May 20th. Iradimed’s dividend payout ratio is currently 43.87%.

Iradimed 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.