Uniplan Investment Counsel Inc. Invests $1.79 Million in Iradimed Corporation (NASDAQ:IRMD)

Uniplan Investment Counsel Inc. bought a new stake in shares of Iradimed Corporation (NASDAQ:IRMD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 32,540 shares of the medical equipment provider’s stock, valued at approximately $1,790,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Iradimed by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after acquiring an additional 22,762 shares during the period. Copeland Capital Management LLC grew its position in Iradimed by 12.6% in the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock worth $26,156,000 after purchasing an additional 53,138 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Iradimed by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider’s stock worth $12,499,000 after purchasing an additional 7,606 shares during the period. Geode Capital Management LLC raised its position in shares of Iradimed by 17.9% during the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock valued at $12,255,000 after buying an additional 33,879 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Iradimed by 94.1% in the fourth 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 buying an additional 48,534 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Stock Down 1.9 %

NASDAQ IRMD opened at $50.78 on Tuesday. Iradimed Corporation has a twelve month low of $40.55 and a twelve month high of $63.29. The stock has a market cap of $645.67 million, a P/E ratio of 33.85 and a beta of 0.82. The company’s 50-day simple moving average is $52.85 and its 200 day simple moving average is $54.18.

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

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. Iradimed’s dividend payout ratio (DPR) is presently 45.33%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IRMD shares. StockNews.com cut Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Roth Mkm reaffirmed a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

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.