Iradimed Corporation (NASDAQ:IRMD) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in Iradimed Corporation (NASDAQ:IRMD) by 28.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,287 shares of the medical equipment provider’s stock after selling 19,856 shares during the period. Teacher Retirement System of Texas’ holdings in Iradimed were worth $2,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Iradimed in the fourth quarter worth $30,000. US Bancorp DE raised its stake in shares of Iradimed by 476.6% during the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 510 shares during the last quarter. Quantbot Technologies LP lifted its holdings 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 valued at $117,000 after buying an additional 1,052 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Iradimed in the third quarter worth about $126,000. Finally, Avantax Advisory Services Inc. acquired a new stake in Iradimed during the fourth quarter worth about $217,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Trading Up 0.2 %

Shares of IRMD opened at $52.96 on Wednesday. The firm has a market cap of $673.39 million, a P/E ratio of 35.31 and a beta of 0.83. Iradimed Corporation has a 12 month low of $40.18 and a 12 month high of $63.29. The stock’s 50 day moving average is $56.44 and its two-hundred day moving average is $53.79.

Iradimed (NASDAQ:IRMD) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. Equities research analysts forecast that Iradimed Corporation will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. Iradimed’s dividend payout ratio (DPR) is currently 45.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Roth Mkm restated a “buy” rating and issued a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com downgraded shares of Iradimed from a “strong-buy” rating to a “buy” rating in a 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.