Iradimed (NASDAQ:IRMD) Reaches New 52-Week High – What’s Next?

Iradimed Corporation (NASDAQ:IRMD) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.17 and last traded at $51.17, with a volume of 121 shares changing hands. The stock had previously closed at $50.37.

Analyst Ratings Changes

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

Iradimed Stock Up 2.4 %

The company has a 50 day moving average of $47.41 and a 200 day moving average of $44.79. The stock has a market capitalization of $652.83 million, a price-to-earnings ratio of 36.56 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. The company had revenue of $17.93 million during the quarter, compared to the consensus estimate of $17.70 million. During the same quarter in the prior year, the company posted $0.33 EPS. On average, research analysts forecast that Iradimed Corporation will post 1.41 earnings per share for the current fiscal 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 issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. Iradimed’s payout ratio is 42.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shaker Investments LLC OH raised its holdings in shares of Iradimed by 44.0% in the 3rd quarter. Shaker Investments LLC OH now owns 29,661 shares of the medical equipment provider’s stock worth $1,492,000 after purchasing an additional 9,056 shares during the period. Kings Path Partners LLC increased its position in Iradimed by 2.3% during the 3rd quarter. Kings Path Partners LLC now owns 24,570 shares of the medical equipment provider’s stock worth $1,236,000 after purchasing an additional 562 shares in the last quarter. SG Americas Securities LLC purchased a new position in Iradimed in the third quarter valued at approximately $147,000. Cim LLC lifted its position in Iradimed by 5.9% during the second quarter. Cim LLC now owns 10,089 shares of the medical equipment provider’s stock valued at $464,000 after buying an additional 561 shares in the last quarter. Finally, Algert Global LLC grew its stake in Iradimed by 84.1% during the second quarter. Algert Global LLC now owns 26,774 shares of the medical equipment provider’s stock worth $1,176,000 after buying an additional 12,227 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

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.