Magnetar Financial LLC Has $616,000 Stake in Iradimed Corporation (NASDAQ:IRMD)

Magnetar Financial LLC lifted its position in Iradimed Corporation (NASDAQ:IRMD) by 129.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,202 shares of the medical equipment provider’s stock after purchasing an additional 6,312 shares during the quarter. Magnetar Financial LLC’s holdings in Iradimed were worth $616,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Iradimed by 21.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,306 shares of the medical equipment provider’s stock valued at $897,000 after purchasing an additional 2,921 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Iradimed in the fourth quarter valued at $217,000. Raymond James Financial Inc. acquired a new position in shares of Iradimed in the fourth quarter valued at $2,319,000. Proficio Capital Partners LLC acquired a new position in shares of Iradimed in the fourth quarter valued at $926,000. Finally, Silver Coast Investments LLC acquired a new position in shares of Iradimed in the fourth quarter valued at $236,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Price Performance

Iradimed stock opened at $52.33 on Friday. The stock has a fifty day moving average price of $56.60 and a two-hundred day moving average price of $53.58. Iradimed Corporation has a 52-week low of $40.18 and a 52-week high of $63.29. The firm has a market capitalization of $665.38 million, a P/E ratio of 34.89 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 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 the consensus estimate of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. On average, equities research analysts predict that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The firm also recently announced 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 represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, February 24th. This is a boost from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s dividend payout ratio is presently 45.33%.

Wall Street Analyst Weigh In

IRMD has been the subject of several recent analyst reports. StockNews.com lowered Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Roth Mkm reiterated a “buy” rating and set a $72.00 price objective (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th.

Iradimed Company 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.