Panagora Asset Management Inc. Decreases Stock Holdings in Iradimed Corporation (NASDAQ:IRMD)

Panagora Asset Management Inc. trimmed its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,683 shares of the medical equipment provider’s stock after selling 247 shares during the period. Panagora Asset Management Inc. owned approximately 0.20% of Iradimed worth $1,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IRMD. Bank of New York Mellon Corp raised its holdings in shares of Iradimed by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 55,540 shares of the medical equipment provider’s stock valued at $2,464,000 after purchasing an additional 1,389 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Iradimed by 0.5% during the third quarter. Los Angeles Capital Management LLC now owns 53,301 shares of the medical equipment provider’s stock valued at $2,365,000 after buying an additional 279 shares during the period. 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. New York State Common Retirement Fund grew its position in Iradimed by 336.7% during the third quarter. New York State Common Retirement Fund now owns 11,603 shares of the medical equipment provider’s stock valued at $515,000 after buying an additional 8,946 shares during the period. Finally, Swiss National Bank bought a new stake in Iradimed during the third quarter valued at approximately $737,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Iradimed Stock Performance

IRMD stock opened at $43.54 on Thursday. Iradimed Corporation has a one year low of $36.12 and a one year high of $51.04. The company’s fifty day moving average price is $42.65 and its 200-day moving average price is $43.43. The company has a market capitalization of $551.22 million, a PE ratio of 30.88 and a beta of 0.86.

Iradimed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, May 17th. Iradimed’s dividend payout ratio (DPR) is presently 42.55%.

Wall Street Analyst Weigh In

IRMD has been the subject of a number of recent analyst reports. Roth Mkm reiterated a “buy” rating and issued a $65.00 price target on shares of Iradimed in a research report on Monday, April 22nd. Roth Capital reiterated a “buy” rating on shares of Iradimed in a research report on Monday, April 22nd. Finally, Singular Research reiterated a “buy” rating on shares of Iradimed in a research report 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.