Iradimed Corporation (NASDAQ:IRMD) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,063 shares of the medical equipment provider’s stock after selling 6,000 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Iradimed were worth $2,148,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IRMD. Bank of New York Mellon Corp lifted its holdings in shares of Iradimed by 94.1% during the 4th quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider’s stock valued at $5,506,000 after acquiring an additional 48,534 shares in the last quarter. Principal Financial Group Inc. raised its position in Iradimed by 11.2% in the fourth quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock valued at $299,000 after purchasing an additional 546 shares during the period. Rhumbline Advisers lifted its stake in shares of Iradimed by 46.0% during the fourth quarter. Rhumbline Advisers now owns 19,252 shares of the medical equipment provider’s stock worth $1,059,000 after purchasing an additional 6,062 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Iradimed by 8.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 21,759 shares of the medical equipment provider’s stock worth $1,197,000 after buying an additional 1,637 shares during the period. Finally, Shaker Investments LLC OH grew its stake in shares of Iradimed by 0.8% in the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

Insider Activity at Iradimed

In other news, CFO John Glenn sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the sale, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Roth Mkm reissued a “buy” rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st.

Iradimed Price Performance

NASDAQ:IRMD opened at $53.91 on Friday. The firm has a 50-day moving average of $57.55 and a two-hundred day moving average of $52.79. The stock has a market cap of $683.20 million, a P/E ratio of 35.94 and a beta of 0.82. Iradimed Corporation has a 1-year low of $40.18 and a 1-year high of $63.29.

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 analysts’ consensus estimates of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The business had revenue of $19.39 million during the quarter, compared to analysts’ expectations of $19.09 million. As a group, equities analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, February 24th. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s payout ratio is 45.33%.

Iradimed 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.