Iradimed (NASDAQ:IRMD) Trading 2.4% Higher

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

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered 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 Stock Performance

The company has a market cap of $587.74 million, a P/E ratio of 33.28 and a beta of 0.83. The stock has a 50-day simple moving average of $44.76 and a 200 day simple moving average of $43.59.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The firm 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 25.18%. During the same quarter in the prior year, the business posted $0.33 earnings per share. Sell-side analysts anticipate that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

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

Institutional Trading of Iradimed

Several large investors have recently added to or reduced their stakes in IRMD. 1620 Investment Advisors Inc. bought a new position in shares of Iradimed in the second quarter valued at about $25,000. Isthmus Partners LLC boosted its position in shares of Iradimed by 1.1% during the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 759 shares in the last quarter. Comerica Bank lifted its holdings in Iradimed by 2,151.6% during the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 1,377 shares in the last quarter. AJOVista LLC bought a new stake in Iradimed during the 4th quarter worth approximately $66,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Iradimed during the first quarter worth $150,000. 92.34% of the stock is owned by institutional investors.

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.