Legato Capital Management LLC Buys 1,727 Shares of Iradimed Corporation (NASDAQ:IRMD)

Legato Capital Management LLC lifted its holdings in Iradimed Corporation (NASDAQ:IRMD) by 15.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,976 shares of the medical equipment provider’s stock after buying an additional 1,727 shares during the period. Legato Capital Management LLC’s holdings in Iradimed were worth $570,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IRMD. 1620 Investment Advisors Inc. bought a new position in shares of Iradimed in the 2nd quarter worth about $25,000. Comerica Bank raised its position in shares of Iradimed by 2,151.6% in the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 1,377 shares in the last quarter. AJOVista LLC bought a new position in shares of Iradimed in the 4th quarter worth about $66,000. EntryPoint Capital LLC bought a new position in shares of Iradimed in the 1st quarter worth about $150,000. Finally, Bessemer Group Inc. bought a new position in shares of Iradimed in the 1st quarter worth about $183,000. 92.34% of the stock is owned by institutional investors.

Iradimed Price Performance

Shares of Iradimed stock opened at $46.41 on Wednesday. Iradimed Corporation has a one year low of $36.12 and a one year high of $50.93. The firm has a market capitalization of $587.74 million, a price-to-earnings ratio of 32.91 and a beta of 0.83. The business has a 50-day simple moving average of $44.84 and a 200 day simple moving average of $43.61.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Iradimed had a return on equity of 25.18% and a net margin of 26.83%. The business had revenue of $17.93 million during the quarter, compared to the consensus estimate of $17.70 million. During the same quarter in the previous year, the business earned $0.33 EPS. On average, sell-side analysts expect that Iradimed Corporation will post 1.41 EPS for the current year.

Iradimed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Iradimed’s payout ratio is presently 42.55%.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their price objective on Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 2nd.

Iradimed Profile

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.