Short Interest in Iradimed Corporation (NASDAQ:IRMD) Increases By 16.5%

Iradimed Corporation (NASDAQ:IRMD) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 201,000 shares, an increase of 16.5% from the February 13th total of 172,600 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,800 shares, the short-interest ratio is currently 4.7 days.

Analyst Ratings Changes

IRMD has been the subject of a number of research analyst reports. Roth Mkm reiterated a “buy” rating and issued a $72.00 target price (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com downgraded Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th.

Iradimed Trading Down 0.1 %

Shares of IRMD traded down $0.07 during mid-day trading on Thursday, hitting $52.78. 1,941 shares of the company traded hands, compared to its average volume of 43,587. The stock has a market capitalization of $671.11 million, a price-to-earnings ratio of 35.34 and a beta of 0.83. The business has a 50-day moving average of $56.80 and a 200 day moving average of $53.55. Iradimed has a one year low of $40.18 and a one year high of $63.29.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). The firm had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. As a group, analysts anticipate that Iradimed will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.17 per share. This is a boost from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, February 24th. Iradimed’s payout ratio is currently 45.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC grew its position in shares of Iradimed by 12.6% during the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock worth $26,156,000 after buying an additional 53,138 shares during the period. Bank of New York Mellon Corp grew its holdings in Iradimed by 94.1% during the 4th quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider’s stock worth $5,506,000 after acquiring an additional 48,534 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after acquiring an additional 43,635 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Iradimed during the 4th quarter valued at $2,319,000. Finally, Geode Capital Management LLC lifted its stake in shares of Iradimed by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock valued at $12,255,000 after purchasing an additional 33,879 shares during the period. 92.34% of the stock is currently owned by institutional investors and hedge funds.

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.