Algert Global LLC Grows Position in Iradimed Corporation (NASDAQ:IRMD)

Algert Global LLC raised its holdings in Iradimed Corporation (NASDAQ:IRMD) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,158 shares of the medical equipment provider’s stock after acquiring an additional 4,384 shares during the period. Algert Global LLC’s holdings in Iradimed were worth $1,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Iradimed during the 2nd quarter valued at about $25,000. Isthmus Partners LLC raised its holdings in shares of 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 buying an additional 759 shares in the last quarter. Comerica Bank raised its holdings in shares of 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 buying an additional 1,377 shares in the last quarter. Huntington National Bank raised its holdings in shares of Iradimed by 51.3% during the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after buying an additional 504 shares in the last quarter. Finally, Gladius Capital Management LP raised its holdings in shares of Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after buying an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Price Performance

Shares of Iradimed stock opened at $53.58 on Friday. The business’s 50 day simple moving average is $51.48 and its two-hundred day simple moving average is $47.04. The stock has a market capitalization of $678.86 million, a P/E ratio of 36.70 and a beta of 0.79. Iradimed Corporation has a one year low of $40.05 and a one year high of $57.95.

Iradimed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. Iradimed’s dividend payout ratio (DPR) is currently 41.10%.

Wall Street Analysts Forecast Growth

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

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.