Acadian Asset Management LLC Has $6.28 Million Stake in Iradimed Corporation (NASDAQ:IRMD)

Acadian Asset Management LLC trimmed its position in Iradimed Corporation (NASDAQ:IRMD) by 8.7% in the second quarter, HoldingsChannel.com reports. The firm owned 143,025 shares of the medical equipment provider’s stock after selling 13,630 shares during the period. Acadian Asset Management LLC’s holdings in Iradimed were worth $6,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. RK Capital Management LLC raised its stake in shares of Iradimed by 13.2% in the fourth 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 in the last quarter. Ranger Investment Management L.P. raised 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 valued at $10,615,000 after purchasing an additional 11,465 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Iradimed during the first quarter worth $476,000. Sequoia Financial Advisors LLC acquired a new position in Iradimed during the second quarter worth $568,000. Finally, Liontrust Investment Partners LLP acquired a new position in Iradimed during the second quarter worth $2,830,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Price Performance

Iradimed stock opened at $46.74 on Thursday. The stock has a fifty day moving average price of $45.48 and a two-hundred day moving average price of $43.73. Iradimed Corporation has a 52-week low of $36.12 and a 52-week high of $50.93. The firm has a market capitalization of $592.20 million, a P/E ratio of 33.15 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts predict that Iradimed Corporation will post 1.41 EPS for the current fiscal year.

Iradimed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Tuesday, August 20th. Iradimed’s payout ratio is presently 42.55%.

Analysts Set New Price Targets

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

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.