Iradimed Corporation (NASDAQ:IRMD) Declares Quarterly Dividend of $0.15

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.15 per share by the medical equipment provider on Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, August 20th.

Iradimed has a dividend payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Iradimed to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 35.1%.

Iradimed Stock Performance

IRMD traded down $0.85 during midday trading on Friday, hitting $45.30. The company had a trading volume of 6,784 shares, compared to its average volume of 50,747. The company has a market capitalization of $573.50 million, a PE ratio of 32.13 and a beta of 0.83. Iradimed has a twelve month low of $36.12 and a twelve month high of $50.93. The firm’s 50-day simple moving average is $44.21 and its 200-day simple moving average is $43.60.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $17.93 million for the quarter, compared to analyst estimates of $17.70 million. Iradimed had a net margin of 26.48% and a return on equity of 24.63%. During the same quarter last year, the firm earned $0.33 EPS. As a group, sell-side analysts anticipate that Iradimed will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Roth Capital reaffirmed a “buy” rating on shares of Iradimed in a research note on Monday, April 22nd. Roth Mkm reissued a “buy” rating and set a $65.00 price objective on shares of Iradimed in a research note on Monday, April 22nd.

About Iradimed

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.