Huntington National Bank Grows Stock Position in Iradimed Corporation (NASDAQ:IRMD)

Huntington National Bank increased its stake in Iradimed Corporation (NASDAQ:IRMD) by 51.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,487 shares of the medical equipment provider’s stock after acquiring an additional 504 shares during the period. Huntington National Bank’s holdings in Iradimed were worth $75,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Iradimed in the second quarter valued at about $568,000. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 2,538 shares during the last quarter. Albert D Mason Inc. purchased a new stake in Iradimed in the 3rd quarter worth approximately $737,000. Algert Global LLC grew its position in shares of Iradimed by 84.1% in the 2nd quarter. Algert Global LLC now owns 26,774 shares of the medical equipment provider’s stock worth $1,176,000 after buying an additional 12,227 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Iradimed during the second quarter valued at approximately $463,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Iradimed Price Performance

IRMD stock opened at $51.05 on Tuesday. Iradimed Corporation has a 1 year low of $40.05 and a 1 year high of $57.95. The firm has a 50-day moving average of $50.60 and a 200 day moving average of $46.52. The company has a market cap of $646.96 million, a P/E ratio of 35.66 and a beta of 0.79.

Iradimed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, November 15th. Iradimed’s payout ratio is presently 41.10%.

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.