Denali Advisors LLC Reduces Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Denali Advisors LLC cut its holdings in Iradimed Corporation (NASDAQ:IRMD) by 26.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,700 shares of the medical equipment provider’s stock after selling 2,000 shares during the period. Denali Advisors LLC’s holdings in Iradimed were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IRMD. RK Capital Management LLC increased its stake in Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after acquiring an additional 39,600 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of Iradimed by 5.4% in the 4th quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after purchasing an additional 11,465 shares during the period. Russell Investments Group Ltd. increased its position in shares of Iradimed by 2.3% during the 4th quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock valued at $10,030,000 after purchasing an additional 4,715 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Iradimed in the third quarter worth $251,000. Finally, Resource Consulting Group Inc. bought a new stake in Iradimed in the fourth quarter worth $4,889,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IRMD shares. Roth Mkm reissued a “buy” rating and issued a $65.00 target price on shares of Iradimed in a research note on Monday, April 22nd. Singular Research reaffirmed a “buy” rating on shares of Iradimed in a research note on Monday, April 1st. Finally, Roth Capital reissued a “buy” rating on shares of Iradimed in a research note on Monday, April 22nd.

Iradimed Stock Up 0.7 %

IRMD opened at $43.98 on Thursday. The business has a fifty day moving average of $42.89 and a 200 day moving average of $43.60. Iradimed Corporation has a 52-week low of $36.12 and a 52-week high of $50.85. The stock has a market cap of $556.79 million, a P/E ratio of 31.19 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $17.60 million during the quarter, compared to the consensus estimate of $17.26 million. Iradimed had a return on equity of 24.63% and a net margin of 26.48%. Equities analysts anticipate that Iradimed Corporation will post 1.41 EPS for the current fiscal year.

Iradimed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 20th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, May 17th. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. Iradimed’s payout ratio is 42.55%.

Iradimed Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.