Riverwater Partners LLC Has $502,000 Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Riverwater Partners LLC cut its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,119 shares of the medical equipment provider’s stock after selling 506 shares during the period. Riverwater Partners LLC’s holdings in Iradimed were worth $502,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IRMD. 1620 Investment Advisors Inc. acquired a new stake in Iradimed during the 2nd quarter worth approximately $25,000. Isthmus Partners LLC lifted its holdings in shares of Iradimed by 1.1% during the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 759 shares in the last quarter. Comerica Bank boosted its position in shares of Iradimed by 2,151.6% in the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 1,377 shares during the period. SG Americas Securities LLC acquired a new position in shares of Iradimed in the third quarter valued at about $147,000. Finally, EntryPoint Capital LLC bought a new position in Iradimed during the first quarter worth about $150,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Price Performance

Shares of NASDAQ IRMD opened at $50.49 on Thursday. The business has a fifty day moving average price of $48.13 and a two-hundred day moving average price of $45.10. The stock has a market capitalization of $639.41 million, a PE ratio of 35.81 and a beta of 0.79. Iradimed Corporation has a fifty-two week low of $38.53 and a fifty-two week high of $52.45.

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

Iradimed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. Iradimed’s payout ratio is 42.55%.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price objective on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a report 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.