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

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.15 per share by the medical equipment provider on Monday, November 25th. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, November 15th.

Iradimed has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Iradimed to earn $1.59 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 37.7%.

Iradimed Stock Up 1.0 %

Shares of IRMD stock traded up $0.50 on Friday, hitting $49.77. The stock had a trading volume of 2,660 shares, compared to its average volume of 48,936. Iradimed has a one year low of $39.24 and a one year high of $53.99. The business has a 50 day moving average price of $48.93 and a 200 day moving average price of $45.47. The company has a market cap of $630.59 million, a PE ratio of 33.75 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. During the same quarter in the previous year, the business posted $0.33 EPS. Equities research analysts expect that Iradimed will post 1.47 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.