Iradimed Corporation (NASDAQ:IRMD) Holdings Lifted by Bridge City Capital LLC

Bridge City Capital LLC boosted its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 61,899 shares of the medical equipment provider’s stock after buying an additional 462 shares during the period. Bridge City Capital LLC’s holdings in Iradimed were worth $3,404,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IRMD. Principal Financial Group Inc. purchased a new stake in shares of Iradimed in the third quarter worth approximately $246,000. Quest Partners LLC increased its stake in Iradimed by 32.9% in the 3rd quarter. Quest Partners LLC now owns 13,071 shares of the medical equipment provider’s stock valued at $657,000 after buying an additional 3,236 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Iradimed by 54.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,385 shares of the medical equipment provider’s stock worth $673,000 after buying an additional 4,708 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after buying an additional 43,635 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Iradimed during the 3rd quarter valued at $1,239,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Iradimed Stock Down 0.3 %

Shares of Iradimed stock 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 stock has a 50 day moving average price of $56.60 and a two-hundred day moving average price of $53.63. The stock has a market capitalization of $665.38 million, a P/E ratio of 34.89 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). The company had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. Sell-side analysts anticipate that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. Iradimed’s dividend payout ratio (DPR) is 45.33%.

Analysts Set New Price Targets

IRMD has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and issued a $72.00 price target (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com downgraded shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th.

Iradimed Company Profile

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.