Connor Clark & Lunn Investment Management Ltd. Grows Position in Iradimed Corporation (NASDAQ:IRMD)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 54.3% in the third quarter, Holdings Channel reports. The firm owned 13,385 shares of the medical equipment provider’s stock after purchasing an additional 4,708 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Iradimed were worth $673,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC grew its stake in Iradimed by 32.9% during the third quarter. Quest Partners LLC now owns 13,071 shares of the medical equipment provider’s stock worth $657,000 after buying an additional 3,236 shares during the period. Gladius Capital Management LP boosted its position in Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 965 shares during the period. Huntington National Bank increased its holdings in Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after purchasing an additional 504 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Iradimed in the third quarter valued at about $246,000. Finally, Oak Ridge Investments LLC purchased a new stake in shares of Iradimed in the third quarter worth about $2,188,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Iradimed Trading Up 1.6 %

Shares of IRMD stock opened at $53.58 on Friday. Iradimed Corporation has a twelve month low of $40.05 and a twelve month high of $57.95. The company has a market capitalization of $678.86 million, a PE ratio of 36.70 and a beta of 0.79. The firm has a fifty day simple moving average of $51.39 and a 200-day simple moving average of $47.00.

Iradimed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. Iradimed’s dividend payout ratio is presently 41.10%.

Iradimed 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.