Algert Global LLC Buys 12,227 Shares of Iradimed Corporation (NASDAQ:IRMD)

Algert Global LLC lifted its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 84.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,774 shares of the medical equipment provider’s stock after purchasing an additional 12,227 shares during the quarter. Algert Global LLC’s holdings in Iradimed were worth $1,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRMD. Isthmus Partners LLC raised its stake in shares of Iradimed by 880.8% during the 1st quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider’s stock valued at $3,163,000 after purchasing an additional 64,574 shares during the period. Liontrust Investment Partners LLP bought a new stake in shares of Iradimed during the 2nd quarter valued at $2,830,000. Roubaix Capital LLC bought a new stake in shares of Iradimed during the 1st quarter valued at $2,213,000. Kings Path Partners LLC purchased a new position in Iradimed during the second quarter worth about $1,055,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Iradimed during the second quarter worth about $568,000. 92.34% of the stock is currently owned by institutional investors.

Iradimed Stock Up 1.3 %

Iradimed stock opened at $49.82 on Friday. Iradimed Corporation has a 52 week low of $36.12 and a 52 week high of $50.93. The business has a 50-day simple moving average of $46.66 and a 200 day simple moving average of $44.44. The stock has a market cap of $630.92 million, a price-to-earnings ratio of 35.33 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 EPS 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 period in the previous year, the business earned $0.33 earnings per share. On average, research analysts anticipate that Iradimed Corporation will post 1.41 earnings per share for the current year.

Iradimed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a $0.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Iradimed’s payout ratio is 42.55%.

Analysts Set New Price Targets

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

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.