Rice Hall James & Associates LLC Has $3.84 Million Stake in Iradimed Corporation (NASDAQ:IRMD)

Rice Hall James & Associates LLC trimmed its holdings in shares of Iradimed Corporation (NASDAQ:IRMD) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,878 shares of the medical equipment provider’s stock after selling 1,721 shares during the quarter. Rice Hall James & Associates LLC owned about 0.55% of Iradimed worth $3,843,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IRMD. R Squared Ltd acquired a new stake in shares of Iradimed in the fourth quarter valued at about $30,000. Huntington National Bank grew its position in shares of Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after purchasing an additional 504 shares during the last quarter. Gladius Capital Management LP grew its position in shares of Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after purchasing an additional 965 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Iradimed in the third quarter valued at about $126,000. 92.34% of the stock is owned by institutional investors and hedge funds.

Iradimed Trading Up 3.2 %

NASDAQ:IRMD opened at $56.97 on Wednesday. Iradimed Corporation has a 1 year low of $40.18 and a 1 year high of $63.29. The firm has a 50 day moving average of $57.21 and a 200-day moving average of $52.25. The stock has a market capitalization of $721.81 million, a P/E ratio of 39.02 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last posted 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). Iradimed had a net margin of 26.12% and a return on equity of 23.99%. The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. As a group, analysts forecast that Iradimed Corporation will post 1.52 EPS for the current fiscal year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $0.17 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s payout ratio is 41.10%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the sale, the chief financial officer now owns 4,383 shares of the company’s stock, valued at $237,470.94. This trade represents a 36.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 37.10% of the stock is currently owned by corporate insiders.

About Iradimed

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.