Iradimed Corporation (NASDAQ:IRMD) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 73.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,925 shares of the medical equipment provider’s stock after acquiring an additional 3,791 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Iradimed were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in shares of Iradimed during the 3rd quarter valued at approximately $36,000. AJOVista LLC purchased a new stake in Iradimed in the fourth quarter valued at $66,000. Hsbc Holdings PLC acquired a new position in shares of Iradimed in the 3rd quarter valued at $251,000. Summit Global Investments grew its holdings in shares of Iradimed by 22.5% during the 4th quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock worth $336,000 after purchasing an additional 1,300 shares during the period. Finally, Isthmus Partners LLC acquired a new stake in shares of Iradimed during the 4th quarter worth about $348,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Price Performance

Shares of NASDAQ:IRMD opened at $43.98 on Thursday. The firm has a market capitalization of $556.79 million, a PE ratio of 31.19 and a beta of 0.83. Iradimed Corporation has a 1 year low of $36.12 and a 1 year high of $50.85. The firm’s 50-day moving average is $42.89 and its two-hundred day moving average is $43.60.

Iradimed (NASDAQ:IRMD) last announced 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. Iradimed had a net margin of 26.48% and a return on equity of 24.63%. The firm had revenue of $17.60 million for the quarter, compared to the consensus estimate of $17.26 million. Analysts expect that Iradimed Corporation will post 1.41 EPS for the current fiscal year.

Iradimed Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Singular Research reaffirmed a “buy” rating on shares of Iradimed in a research report on Monday, April 1st. Roth Capital restated a “buy” rating on shares of Iradimed in a report on Monday, April 22nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $65.00 target price on shares of Iradimed in a report on Monday, April 22nd.

Iradimed Company 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.