Voleon Capital Management LP Makes New Investment in Iradimed Corporation (NASDAQ:IRMD)

Voleon Capital Management LP purchased a new position in shares of Iradimed Corporation (NASDAQ:IRMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,616 shares of the medical equipment provider’s stock, valued at approximately $804,000.

A number of other hedge funds also recently modified their holdings of IRMD. R Squared Ltd acquired a new stake in Iradimed during the 4th quarter worth approximately $30,000. US Bancorp DE raised its holdings in shares of Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 510 shares during the period. Huntington National Bank lifted its position in Iradimed by 34.0% in the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider’s stock valued at $110,000 after acquiring an additional 506 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Iradimed in the 3rd quarter worth $126,000. Finally, Avantax Advisory Services Inc. bought a new position in Iradimed during the 4th quarter worth about $217,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded Iradimed from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. Roth Mkm reaffirmed a “buy” rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th.

Iradimed Trading Up 1.0 %

Shares of IRMD stock opened at $52.94 on Friday. The firm’s fifty day moving average price is $52.35 and its two-hundred day moving average price is $54.31. Iradimed Corporation has a 1 year low of $41.60 and a 1 year high of $63.29. The firm has a market capitalization of $673.13 million, a P/E ratio of 35.29 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last released 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 company 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%. As a group, equities research analysts forecast that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. This is an increase from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. Iradimed’s payout ratio is presently 45.33%.

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.