Summit Global Investments Raises Stock Holdings in Iradimed Corporation (NASDAQ:IRMD)

Summit Global Investments raised its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 22.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,088 shares of the medical equipment provider’s stock after acquiring an additional 1,300 shares during the period. Summit Global Investments owned approximately 0.06% of Iradimed worth $336,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IRMD. Gladius Capital Management LP purchased a new stake in Iradimed during the third quarter valued at $36,000. Hsbc Holdings PLC bought a new position in shares of Iradimed in the 3rd quarter worth approximately $251,000. Denali Advisors LLC boosted its holdings in shares of Iradimed by 30.5% in the fourth quarter. Denali Advisors LLC now owns 7,700 shares of the medical equipment provider’s stock worth $366,000 after buying an additional 1,800 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Iradimed during the third quarter valued at approximately $366,000. Finally, Barclays PLC grew its position in Iradimed by 43.0% during the third quarter. Barclays PLC now owns 10,656 shares of the medical equipment provider’s stock valued at $472,000 after buying an additional 3,203 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Trading Up 1.9 %

Shares of IRMD opened at $44.70 on Monday. Iradimed Corporation has a 12-month low of $36.12 and a 12-month high of $51.04. The company has a market capitalization of $565.90 million, a PE ratio of 31.70 and a beta of 0.86. The business’s 50 day moving average is $42.62 and its 200 day moving average is $43.20.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $17.45 million for the quarter. Iradimed had a net margin of 26.48% and a return on equity of 24.63%. Equities research analysts predict that Iradimed Corporation will post 1.39 earnings per share for the current year.

Iradimed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, May 17th. Iradimed’s payout ratio is presently 42.55%.

Wall Street Analyst Weigh In

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

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.