ClariVest Asset Management LLC Raises Holdings in Iradimed Corporation (NASDAQ:IRMD)

ClariVest Asset Management LLC boosted its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,666 shares of the medical equipment provider’s stock after acquiring an additional 494 shares during the quarter. ClariVest Asset Management LLC’s holdings in Iradimed were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new stake in Iradimed during the 2nd quarter valued at about $25,000. Isthmus Partners LLC boosted its holdings in Iradimed by 1.1% during the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 759 shares during the period. Comerica Bank boosted its holdings in Iradimed by 2,151.6% during the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 1,377 shares during the period. EntryPoint Capital LLC purchased a new stake in Iradimed during the 1st quarter valued at about $150,000. Finally, Bessemer Group Inc. purchased a new stake in Iradimed during the 1st quarter valued at about $183,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their target price on Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Iradimed Stock Performance

NASDAQ IRMD opened at $47.88 on Friday. Iradimed Corporation has a fifty-two week low of $36.12 and a fifty-two week high of $50.93. The stock has a 50 day simple moving average of $45.54 and a two-hundred day simple moving average of $43.75. The stock has a market cap of $606.35 million, a P/E ratio of 33.96 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. The business had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter last year, the business posted $0.33 EPS. Sell-side analysts predict that Iradimed Corporation will post 1.41 earnings per share for the current year.

Iradimed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Tuesday, August 20th. Iradimed’s dividend payout ratio is currently 42.55%.

About Iradimed

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.