Algert Global LLC Purchases 4,384 Shares of Iradimed Corporation (NASDAQ:IRMD)

Algert Global LLC lifted its position in shares of Iradimed Corporation (NASDAQ:IRMD) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,158 shares of the medical equipment provider’s stock after acquiring an additional 4,384 shares during the quarter. Algert Global LLC owned approximately 0.25% of Iradimed worth $1,567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IRMD. Comerica Bank grew its stake in shares of Iradimed by 2,151.6% during the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 1,377 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Iradimed during the 2nd quarter worth $568,000. 1620 Investment Advisors Inc. bought a new position in shares of Iradimed during the 2nd quarter worth $25,000. Bank of New York Mellon Corp boosted its stake in Iradimed by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,971 shares of the medical equipment provider’s stock worth $2,547,000 after purchasing an additional 4,363 shares during the period. Finally, Bailard Inc. bought a new position in Iradimed in the 2nd quarter worth about $202,000. Institutional investors own 92.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their target price 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 Stock Up 1.6 %

Shares of NASDAQ IRMD opened at $53.58 on Friday. Iradimed Corporation has a 52 week low of $40.05 and a 52 week high of $57.95. The business has a 50-day simple moving average of $51.48 and a two-hundred day simple moving average of $47.04. The company has a market cap of $678.86 million, a P/E ratio of 36.70 and a beta of 0.79.

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 issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. Iradimed’s payout ratio is currently 41.10%.

Iradimed 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.