Iradimed (NASDAQ:IRMD) Sets New 12-Month High – Here’s What Happened

Iradimed Corporation (NASDAQ:IRMD)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $54.76 and last traded at $54.63, with a volume of 736 shares changing hands. The stock had previously closed at $52.74.

Wall Street Analyst Weigh In

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

Iradimed Stock Up 3.8 %

The stock has a market capitalization of $693.94 million, a price-to-earnings ratio of 36.12 and a beta of 0.79. The company’s 50-day simple moving average is $49.16 and its 200 day simple moving average is $45.74.

Iradimed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, November 15th. Iradimed’s payout ratio is presently 41.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC increased its holdings in shares of Iradimed by 0.3% in the third quarter. Copeland Capital Management LLC now owns 422,425 shares of the medical equipment provider’s stock valued at $21,244,000 after purchasing an additional 1,433 shares in the last quarter. Bares Capital Management Inc. grew its stake in Iradimed by 0.7% in the first quarter. Bares Capital Management Inc. now owns 279,000 shares of the medical equipment provider’s stock valued at $12,273,000 after acquiring an additional 2,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Iradimed by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock valued at $9,620,000 after acquiring an additional 2,079 shares during the period. Hillsdale Investment Management Inc. grew its stake in Iradimed by 8.6% in the first quarter. Hillsdale Investment Management Inc. now owns 97,400 shares of the medical equipment provider’s stock valued at $4,285,000 after acquiring an additional 7,680 shares during the period. Finally, Isthmus Partners LLC grew its stake in Iradimed by 1.1% in the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 759 shares during the period. Institutional investors 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.