UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 8,774 Shares of Iradimed Corporation (NASDAQ:IRMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 91.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,359 shares of the medical equipment provider’s stock after purchasing an additional 8,774 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.14% of Iradimed worth $1,010,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MetLife Investment Management LLC raised its position in shares of Iradimed by 11.4% in the 4th quarter. MetLife Investment Management LLC now owns 4,845 shares of the medical equipment provider’s stock worth $266,000 after acquiring an additional 494 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Iradimed by 11.2% in the fourth quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock valued at $299,000 after purchasing an additional 546 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Iradimed by 21.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,306 shares of the medical equipment provider’s stock worth $897,000 after acquiring an additional 2,921 shares during the period. Bank of America Corp DE grew its holdings in Iradimed by 8.1% during the fourth quarter. Bank of America Corp DE now owns 25,971 shares of the medical equipment provider’s stock worth $1,428,000 after acquiring an additional 1,949 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new position in Iradimed during the fourth quarter worth approximately $217,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Trading Down 1.4%

Shares of NASDAQ IRMD opened at $59.94 on Wednesday. Iradimed Corporation has a twelve month low of $41.77 and a twelve month high of $63.29. The stock has a fifty day simple moving average of $53.41 and a 200-day simple moving average of $54.77. The stock has a market capitalization of $762.14 million, a PE ratio of 39.96 and a beta of 0.92.

Iradimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were paid a $0.17 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. Iradimed’s payout ratio is presently 43.87%.

Analysts Set New Price Targets

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

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.