Millennium Management LLC Cuts Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Millennium Management LLC decreased its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,051 shares of the medical equipment provider’s stock after selling 36,176 shares during the quarter. Millennium Management LLC owned about 0.35% of Iradimed worth $2,423,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Iradimed by 4.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider’s stock valued at $252,000 after acquiring an additional 204 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Iradimed by 35.8% during the 4th quarter. Lazard Asset Management LLC now owns 33,292 shares of the medical equipment provider’s stock valued at $1,831,000 after acquiring an additional 8,773 shares during the last quarter. Granahan Investment Management LLC boosted its position in shares of Iradimed by 20.2% during the 4th quarter. Granahan Investment Management LLC now owns 12,645 shares of the medical equipment provider’s stock valued at $695,000 after acquiring an additional 2,124 shares during the last quarter. Bosun Asset Management LLC boosted its position in shares of Iradimed by 293.7% during the 4th quarter. Bosun Asset Management LLC now owns 21,300 shares of the medical equipment provider’s stock valued at $1,172,000 after acquiring an additional 15,890 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Iradimed by 8.1% during the 4th quarter. Bank of America Corp DE now owns 25,971 shares of the medical equipment provider’s stock valued at $1,428,000 after acquiring an additional 1,949 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Price Performance

NASDAQ IRMD opened at $58.10 on Monday. The firm’s 50-day moving average is $52.40 and its two-hundred day moving average is $54.40. Iradimed Corporation has a 12 month low of $41.69 and a 12 month high of $63.29. The stock has a market capitalization of $738.74 million, a P/E ratio of 38.73 and a beta of 0.91.

Iradimed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. Iradimed’s dividend payout ratio (DPR) is presently 43.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $72.00 price target (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th. Wall Street Zen raised shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th.

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.