Vanguard Group Inc. Has $29.10 Million Holdings in iRadimed Corporation $IRMD

Vanguard Group Inc. increased its stake in shares of iRadimed Corporation (NASDAQ:IRMD) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,451 shares of the medical equipment provider’s stock after purchasing an additional 17,640 shares during the period. Vanguard Group Inc. owned approximately 4.36% of iRadimed worth $29,098,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRMD. Copeland Capital Management LLC lifted its holdings in iRadimed by 3.2% during the first quarter. Copeland Capital Management LLC now owns 490,544 shares of the medical equipment provider’s stock worth $25,744,000 after acquiring an additional 14,981 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in iRadimed by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider’s stock worth $12,499,000 after acquiring an additional 7,606 shares in the last quarter. Northern Trust Corp lifted its holdings in iRadimed by 7.3% during the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider’s stock worth $7,869,000 after acquiring an additional 9,722 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in iRadimed by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 101,665 shares of the medical equipment provider’s stock worth $5,335,000 after acquiring an additional 1,557 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in iRadimed by 20.3% during the first quarter. Envestnet Asset Management Inc. now owns 70,473 shares of the medical equipment provider’s stock worth $3,698,000 after acquiring an additional 11,892 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

iRadimed Price Performance

Shares of iRadimed stock opened at $73.85 on Thursday. The firm has a market cap of $939.37 million, a price-to-earnings ratio of 45.59 and a beta of 0.94. The stock’s 50-day moving average is $63.25 and its 200-day moving average is $57.22. iRadimed Corporation has a one year low of $44.58 and a one year high of $73.98.

iRadimed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Monday, August 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 18th. iRadimed’s payout ratio is 41.98%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded iRadimed from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $72.00.

Insider Activity at iRadimed

In related news, Director Monty K. Allen sold 1,102 shares of iRadimed stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total value of $76,148.20. Following the sale, the director owned 19,898 shares of the company’s stock, valued at approximately $1,374,951.80. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 36.80% of the stock is currently owned by company insiders.

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.