Iradimed (NASDAQ:IRMD) Sees Large Volume Increase – Here’s Why

Shares of Iradimed Corporation (NASDAQ:IRMD) saw unusually-high trading volume on Thursday . Approximately 75,065 shares traded hands during trading, an increase of 80% from the previous session’s volume of 41,818 shares.The stock last traded at $51.92 and had previously closed at $52.31.

Wall Street Analysts Forecast Growth

IRMD has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com lowered Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

Iradimed Stock Up 2.0 %

The company has a market cap of $666.90 million, a price-to-earnings ratio of 34.97 and a beta of 0.83. The firm has a 50 day moving average price of $57.09 and a two-hundred day moving average price of $53.39.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The business had revenue of $19.39 million for the quarter, compared to the consensus estimate of $19.09 million. On average, equities analysts expect that Iradimed Corporation will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.17 per share. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. Iradimed’s dividend payout ratio is presently 45.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Iradimed by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider’s stock worth $252,000 after acquiring an additional 204 shares in the last quarter. Shaker Investments LLC OH boosted its holdings in Iradimed by 0.8% in the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock worth $1,644,000 after acquiring an additional 233 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Iradimed by 9.6% in the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 362 shares in the last quarter. Bridge City Capital LLC boosted its holdings in Iradimed by 0.8% in the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock worth $3,404,000 after acquiring an additional 462 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Iradimed by 1.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 24,779 shares of the medical equipment provider’s stock worth $1,246,000 after acquiring an additional 472 shares in the last quarter. Institutional investors own 92.34% of the company’s stock.

About Iradimed

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.