Iradimed (NASDAQ:IRMD) Reaches New 1-Year High – Here’s What Happened

Iradimed Corporation (NASDAQ:IRMD)’s stock price reached a new 52-week high 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 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.

Iradimed Stock Performance

The company has a fifty day moving average of $47.11 and a two-hundred day moving average of $44.70. The company has a market cap of $637.89 million, a PE ratio of 35.72 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last released 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 return on equity of 24.71% and a net margin of 26.83%. The business had revenue of $17.93 million for the quarter, compared to analyst estimates of $17.70 million. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities analysts forecast that Iradimed Corporation will post 1.41 EPS for the current year.

Iradimed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Iradimed’s payout ratio is 42.55%.

Hedge Funds Weigh In On Iradimed

Hedge funds and other institutional investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in shares of Iradimed during the 2nd quarter worth $25,000. Isthmus Partners LLC grew its position in shares of Iradimed by 1.1% during the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 759 shares in the last quarter. Comerica Bank grew its position in shares of Iradimed by 2,151.6% during the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 1,377 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Iradimed during the 3rd quarter worth $147,000. Finally, EntryPoint Capital LLC bought a new position in shares of Iradimed during the 1st quarter worth $150,000. 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.