Lazard Asset Management LLC Has $1.83 Million Stake in Iradimed Corporation (NASDAQ:IRMD)

Lazard Asset Management LLC grew its holdings in Iradimed Corporation (NASDAQ:IRMD) by 35.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,292 shares of the medical equipment provider’s stock after acquiring an additional 8,773 shares during the quarter. Lazard Asset Management LLC’s holdings in Iradimed were worth $1,831,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Iradimed by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after purchasing an additional 22,762 shares during the period. Copeland Capital Management LLC lifted its stake in Iradimed by 12.6% in the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock valued at $26,156,000 after buying an additional 53,138 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Iradimed by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider’s stock worth $12,499,000 after acquiring an additional 7,606 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Iradimed by 17.9% during the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock worth $12,255,000 after acquiring an additional 33,879 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Iradimed by 7.3% during the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider’s stock worth $7,869,000 after acquiring an additional 9,722 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Stock Up 0.1%

NASDAQ:IRMD opened at $53.91 on Friday. Iradimed Corporation has a twelve month low of $41.69 and a twelve month high of $63.29. The company has a market cap of $685.47 million, a P/E ratio of 35.94 and a beta of 0.91. The business has a 50 day moving average price of $52.17 and a two-hundred day moving average price of $54.42.

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 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 anticipate that Iradimed Corporation will post 1.66 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 annualized dividend and a yield of 1.26%. Iradimed’s dividend payout ratio (DPR) is presently 43.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com raised Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th.

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.