Principal Financial Group Inc. Takes Position in Iradimed Corporation (NASDAQ:IRMD)

Principal Financial Group Inc. acquired a new position in Iradimed Corporation (NASDAQ:IRMD) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,894 shares of the medical equipment provider’s stock, valued at approximately $246,000.

Several other large investors have also recently added to or reduced their stakes in the business. Oak Ridge Investments LLC acquired a new position in Iradimed during the 3rd quarter worth $2,188,000. Semanteon Capital Management LP bought a new stake in shares of Iradimed during the third quarter valued at about $331,000. Albert D Mason Inc. acquired a new stake in Iradimed in the third quarter worth about $737,000. Copeland Capital Management LLC grew its position in Iradimed by 0.3% in the 3rd quarter. Copeland Capital Management LLC now owns 422,425 shares of the medical equipment provider’s stock valued at $21,244,000 after buying an additional 1,433 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Iradimed by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,122 shares of the medical equipment provider’s stock valued at $1,012,000 after buying an additional 2,538 shares during the period. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Stock Performance

Shares of IRMD stock opened at $53.39 on Tuesday. The stock has a market cap of $676.45 million, a PE ratio of 36.46 and a beta of 0.79. The business’s fifty day moving average is $51.12 and its 200-day moving average is $46.81. Iradimed Corporation has a 1 year low of $40.05 and a 1 year high of $57.95.

Iradimed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, November 15th. Iradimed’s dividend payout ratio (DPR) is presently 41.10%.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their price target on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

Iradimed Company 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.