Bailard Inc. acquired a new position in shares of Iradimed Corporation (NASDAQ:IRMD – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 4,600 shares of the medical equipment provider’s stock, valued at approximately $202,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of Iradimed by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 57,971 shares of the medical equipment provider’s stock worth $2,547,000 after purchasing an additional 4,363 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Iradimed in the second quarter worth approximately $25,000. Sequoia Financial Advisors LLC purchased a new stake in Iradimed in the second quarter worth approximately $568,000. Comerica Bank boosted its stake in Iradimed by 2,151.6% in the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 1,377 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its stake in Iradimed by 0.7% in the first quarter. Bares Capital Management Inc. now owns 279,000 shares of the medical equipment provider’s stock worth $12,273,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.
Iradimed Stock Down 1.1 %
Shares of Iradimed stock opened at $46.41 on Wednesday. The company has a market cap of $587.74 million, a PE ratio of 32.91 and a beta of 0.83. The business has a 50 day moving average of $44.84 and a 200 day moving average of $43.61. Iradimed Corporation has a 52 week low of $36.12 and a 52 week high of $50.93.
Iradimed Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Iradimed’s dividend payout ratio is presently 42.55%.
Wall Street Analysts Forecast Growth
Separately, Roth Mkm cut their target price on Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.
Check Out Our Latest Research Report on IRMD
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.
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