HighTower Advisors LLC Sells 22,356 Shares of Iradimed Corporation (NASDAQ:IRMD)

HighTower Advisors LLC trimmed its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 27.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 60,000 shares of the medical equipment provider’s stock after selling 22,356 shares during the quarter. HighTower Advisors LLC’s holdings in Iradimed were worth $3,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Shaker Investments LLC OH raised its holdings in shares of Iradimed by 0.8% during the 4th quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock worth $1,644,000 after buying an additional 233 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Iradimed by 1.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 24,779 shares of the medical equipment provider’s stock worth $1,246,000 after buying an additional 472 shares in the last quarter. US Bancorp DE raised its holdings in shares of Iradimed by 476.6% during the 4th 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. R Squared Ltd acquired a new position in shares of Iradimed during the 4th quarter worth $30,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Iradimed by 11.2% during the 4th quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock worth $299,000 after buying an additional 546 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com cut Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Roth Mkm reaffirmed a “buy” rating and issued a $72.00 target price (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Stock Down 0.3 %

Shares of IRMD opened at $52.33 on Friday. Iradimed Corporation has a 12-month low of $40.18 and a 12-month high of $63.29. The business has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $53.58. The stock has a market cap of $665.38 million, a PE ratio of 34.89 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last issued 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 return on equity of 24.12% and a net margin of 26.26%. The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. On average, equities research analysts expect that Iradimed Corporation will post 1.66 EPS for the current year.

Iradimed Increases Dividend

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

About Iradimed

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.