Iradimed Corporation (NASDAQ:IRMD) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC trimmed its position in Iradimed Corporation (NASDAQ:IRMD) by 25.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,570 shares of the medical equipment provider’s stock after selling 2,549 shares during the period. Riverwater Partners LLC owned approximately 0.06% of Iradimed worth $416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Iradimed during the fourth quarter valued at about $30,000. US Bancorp DE lifted its holdings in Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 510 shares during the last quarter. Huntington National Bank boosted its position in shares of Iradimed by 34.0% during the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock valued at $110,000 after purchasing an additional 506 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed in the 3rd quarter worth approximately $126,000. 92.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on IRMD. StockNews.com cut shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Roth Mkm restated a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Price Performance

Shares of IRMD opened at $49.92 on Friday. Iradimed Corporation has a one year low of $40.18 and a one year high of $63.29. The company has a 50-day moving average of $55.31 and a two-hundred day moving average of $53.98. The stock has a market cap of $634.73 million, a price-to-earnings ratio of 33.28 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The firm had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. Analysts anticipate that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The firm also recently declared 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. This represents a $0.68 annualized dividend and a yield of 1.36%. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed’s payout ratio is presently 45.33%.

About Iradimed

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.