LSV Asset Management Lowers Stake in Iradimed Corporation (NASDAQ:IRMD)

LSV Asset Management lessened its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 27.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,600 shares of the medical equipment provider’s stock after selling 4,800 shares during the period. LSV Asset Management’s holdings in Iradimed were worth $554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Resource Consulting Group Inc. acquired a new stake in shares of Iradimed during the 4th quarter valued at about $4,889,000. RK Capital Management LLC increased its holdings in Iradimed by 13.2% in the 4th quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock valued at $16,159,000 after purchasing an additional 39,600 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new stake in Iradimed in the 4th quarter valued at approximately $749,000. Ranger Investment Management L.P. grew its stake in shares of Iradimed by 5.4% in the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after acquiring an additional 11,465 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Iradimed during the first quarter worth $476,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Trading Down 2.5 %

Shares of NASDAQ:IRMD opened at $45.36 on Monday. The company has a 50 day moving average of $43.21 and a 200-day moving average of $43.51. The firm has a market cap of $574.26 million, a P/E ratio of 32.17 and a beta of 0.83. Iradimed Corporation has a twelve month low of $36.12 and a twelve month high of $50.85.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Iradimed had a net margin of 26.48% and a return on equity of 24.63%. The business had revenue of $17.60 million for the quarter, compared to analyst estimates of $17.26 million. Equities research analysts forecast that Iradimed Corporation will post 1.41 EPS for the current year.

Iradimed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Monday, May 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, May 17th. Iradimed’s dividend payout ratio is 42.55%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRMD. Roth Capital reissued a “buy” rating on shares of Iradimed in a research report on Monday, April 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $65.00 target price on shares of Iradimed in a report on Monday, April 22nd. Finally, Singular Research reissued a “buy” rating on shares of Iradimed in a research note on Monday, April 1st.

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.