Iradimed (NASDAQ:IRMD) Trading Up 2.4%

Iradimed Corporation (NASDAQ:IRMD) rose 2.4% during mid-day trading on Tuesday . The company traded as high as $46.92 and last traded at $46.92. Approximately 739 shares were traded during trading, a decline of 99% from the average daily volume of 51,183 shares. The stock had previously closed at $45.84.

Analyst Upgrades and Downgrades

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 research note on Friday, August 2nd.

Iradimed Trading Down 1.1 %

The stock has a market cap of $587.74 million, a PE ratio of 33.28 and a beta of 0.83. The business has a 50-day moving average price of $44.76 and a 200 day moving average price of $43.59.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Iradimed had a net margin of 26.83% and a return on equity of 25.18%. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. During the same quarter last year, the business earned $0.33 earnings per share. On average, equities analysts predict that Iradimed Corporation will post 1.41 earnings per share for the current year.

Iradimed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. Iradimed’s dividend payout ratio is currently 42.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its position in shares of Iradimed by 2.3% in the fourth quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock valued at $10,030,000 after acquiring an additional 4,715 shares during the period. Summit Global Investments boosted its holdings in Iradimed by 22.5% in the 4th quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock valued at $336,000 after purchasing an additional 1,300 shares during the period. AJOVista LLC purchased a new position in shares of Iradimed during the 4th quarter valued at $66,000. Teacher Retirement System of Texas bought a new position in shares of Iradimed in the fourth quarter worth $415,000. Finally, Isthmus Partners LLC purchased a new stake in shares of Iradimed in the fourth quarter worth $348,000. Hedge funds and other 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.