Russell Investments Group Ltd. Has $10.03 Million Position in Iradimed Corporation (NASDAQ:IRMD)

Russell Investments Group Ltd. grew its holdings in Iradimed Corporation (NASDAQ:IRMD) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,288 shares of the medical equipment provider’s stock after purchasing an additional 4,715 shares during the period. Russell Investments Group Ltd. owned approximately 1.68% of Iradimed worth $10,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Resource Consulting Group Inc. purchased a new stake in Iradimed in the 4th quarter worth about $4,889,000. Bridge City Capital LLC purchased a new stake in shares of Iradimed in the third quarter worth approximately $1,250,000. Ballast Asset Management LP acquired a new stake in shares of Iradimed during the third quarter worth approximately $1,113,000. Swiss National Bank purchased a new position in Iradimed during the third quarter valued at approximately $737,000. Finally, Conestoga Capital Advisors LLC acquired a new position in Iradimed in the 4th quarter valued at approximately $749,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Stock Up 1.9 %

IRMD stock opened at $44.70 on Monday. The company has a market capitalization of $565.90 million, a price-to-earnings ratio of 31.70 and a beta of 0.86. The firm has a 50 day moving average of $42.62 and a two-hundred day moving average of $43.20. Iradimed Corporation has a 12 month low of $36.12 and a 12 month high of $51.04.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a return on equity of 25.01% and a net margin of 26.48%. The business had revenue of $17.45 million during the quarter. On average, research analysts expect that Iradimed Corporation will post 1.39 EPS for the current fiscal year.

Iradimed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.60 annualized dividend and a yield of 1.34%. Iradimed’s dividend payout ratio (DPR) is currently 42.55%.

Analyst Ratings Changes

A number of brokerages have issued reports on IRMD. Singular Research reissued a “buy” rating on shares of Iradimed in a research note on Monday, April 1st. Roth Mkm restated a “buy” rating and issued a $65.00 target price on shares of Iradimed in a research note on Monday, April 22nd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Iradimed in a research note on Monday, April 22nd.

About Iradimed

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.