Copeland Capital Management LLC Raises Stake in Iradimed Corporation (NASDAQ:IRMD)

Copeland Capital Management LLC boosted its stake in shares of Iradimed Corporation (NASDAQ:IRMD) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,425 shares of the medical equipment provider’s stock after buying an additional 1,433 shares during the quarter. Copeland Capital Management LLC owned approximately 3.34% of Iradimed worth $21,244,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Isthmus Partners LLC raised its stake in shares of Iradimed by 880.8% during the first quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider’s stock valued at $3,163,000 after acquiring an additional 64,574 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in shares of Iradimed in the 2nd quarter worth $2,830,000. Roubaix Capital LLC bought a new position in shares of Iradimed during the 1st quarter worth $2,213,000. Kings Path Partners LLC purchased a new position in shares of Iradimed during the second quarter valued at $1,055,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Iradimed during the second quarter valued at $568,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Iradimed Stock Down 1.1 %

Shares of NASDAQ:IRMD opened at $51.22 on Tuesday. The firm has a 50 day moving average of $47.86 and a 200 day moving average of $45.00. The company has a market capitalization of $648.65 million, a price-to-earnings ratio of 36.33 and a beta of 0.79. Iradimed Corporation has a 52 week low of $37.51 and a 52 week high of $52.45.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. During the same period in the previous year, the company posted $0.33 EPS. On average, sell-side analysts expect that Iradimed Corporation will post 1.41 EPS for the current year.

Iradimed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, August 20th. Iradimed’s payout ratio is currently 42.55%.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their target price on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 2nd.

Iradimed Company 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.