KLP Kapitalforvaltning AS Acquires Shares of 16,800 Iradimed Corporation (NASDAQ:IRMD)

KLP Kapitalforvaltning AS bought a new position in Iradimed Corporation (NASDAQ:IRMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,800 shares of the medical equipment provider’s stock, valued at approximately $924,000. KLP Kapitalforvaltning AS owned about 0.13% of Iradimed as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Iradimed in the fourth quarter valued at $30,000. US Bancorp DE raised its holdings in Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 510 shares during the period. Quantbot Technologies LP boosted its position in Iradimed by 83.0% during the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 1,052 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Iradimed in the third quarter valued at approximately $126,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Iradimed in the fourth quarter valued at approximately $217,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Iradimed Price Performance

Shares of NASDAQ:IRMD opened at $52.48 on Tuesday. Iradimed Corporation has a 1 year low of $40.18 and a 1 year high of $63.29. The firm has a market capitalization of $667.28 million, a PE ratio of 34.99 and a beta of 0.83. The business’s 50 day moving average price is $55.95 and its 200-day moving average price is $53.96.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). The business had revenue of $19.39 million for 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%. As a group, analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. Iradimed’s dividend payout ratio (DPR) is 45.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRMD. Roth Mkm reiterated a “buy” rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com lowered shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th.

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.