Trexquant Investment LP Acquires 1,592 Shares of Iradimed Corporation (NASDAQ:IRMD)

Trexquant Investment LP increased its holdings in Iradimed Corporation (NASDAQ:IRMD) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,875 shares of the medical equipment provider’s stock after buying an additional 1,592 shares during the period. Trexquant Investment LP owned 0.09% of Iradimed worth $653,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of IRMD. Shaker Investments LLC OH boosted its holdings in shares of Iradimed by 0.8% in the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock worth $1,644,000 after acquiring an additional 233 shares during the period. Bridge City Capital LLC lifted its holdings in Iradimed by 0.8% during the 4th quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock worth $3,404,000 after purchasing an additional 462 shares in the last quarter. US Bancorp DE boosted its stake 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. R Squared Ltd purchased a new position in Iradimed during the 4th quarter valued at about $30,000. Finally, Principal Financial Group Inc. increased its position in shares of Iradimed by 11.2% during the fourth quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock valued at $299,000 after buying an additional 546 shares during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Iradimed Stock Up 4.4 %

Shares of NASDAQ IRMD opened at $52.29 on Friday. The stock’s 50-day simple moving average is $53.95 and its two-hundred day simple moving average is $54.06. Iradimed Corporation has a twelve month low of $40.18 and a twelve month high of $63.29. The firm has a market capitalization of $664.87 million, a P/E ratio of 34.86 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The company had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. As a group, research analysts anticipate that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.17 per share. This is an increase from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, February 24th. Iradimed’s payout ratio is currently 45.33%.

About Iradimed

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.