AlphaQuest LLC Has $182,000 Position in Iradimed Corporation (NASDAQ:IRMD)

AlphaQuest LLC cut its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 74.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,302 shares of the medical equipment provider’s stock after selling 9,769 shares during the quarter. AlphaQuest LLC’s holdings in Iradimed were worth $182,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IRMD. R Squared Ltd acquired a new stake in Iradimed during the fourth quarter worth about $30,000. US Bancorp DE grew its position in Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 510 shares in the last quarter. Huntington National Bank grew its position in Iradimed by 51.3% during the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after buying an additional 504 shares in the last quarter. Gladius Capital Management LP grew its position in Iradimed by 126.6% during the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after buying an additional 965 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Iradimed by 83.0% during the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

Iradimed Trading Up 2.0 %

NASDAQ IRMD opened at $52.45 on Monday. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29. The stock’s 50 day moving average is $57.09 and its two-hundred day moving average is $53.48. The company has a market capitalization of $666.90 million, a price-to-earnings ratio of 34.97 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last posted its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. On average, analysts predict that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.17 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s payout ratio is 45.33%.

Analysts Set New Price Targets

IRMD has been the topic of a number of recent research reports. StockNews.com downgraded Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $72.00 price objective (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.