Iradimed Corporation (NASDAQ:IRMD) Short Interest Up 8.9% in September

Iradimed Corporation (NASDAQ:IRMD) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 74,400 shares, an increase of 8.9% from the September 15th total of 68,300 shares. Based on an average daily volume of 49,800 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.9% of the company’s stock are short sold.

Analyst Ratings Changes

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

Iradimed Stock Performance

Shares of IRMD traded up $1.20 during trading hours on Wednesday, hitting $51.55. The company had a trading volume of 10,674 shares, compared to its average volume of 50,252. The stock has a market capitalization of $652.83 million, a price-to-earnings ratio of 35.71 and a beta of 0.79. The firm has a fifty day moving average price of $47.25 and a 200-day moving average price of $44.74. Iradimed has a 52-week low of $37.51 and a 52-week high of $51.86.

Iradimed (NASDAQ:IRMD) last issued its 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. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. The business had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same period in the previous year, the company earned $0.33 earnings per share. Research analysts anticipate that Iradimed will post 1.41 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 annualized dividend and a yield of 1.16%. Iradimed’s payout ratio is 42.55%.

Hedge Funds Weigh In On Iradimed

Several hedge funds and other institutional investors have recently bought and sold shares of IRMD. Isthmus Partners LLC raised its holdings in shares of Iradimed by 880.8% during the first quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider’s stock valued at $3,163,000 after purchasing an additional 64,574 shares during the last quarter. Liontrust Investment Partners LLP purchased a new stake in Iradimed during the second quarter valued at $2,830,000. Roubaix Capital LLC bought a new position in Iradimed in the first quarter valued at about $2,213,000. Kings Path Partners LLC purchased a new position in shares of Iradimed in the second quarter worth approximately $1,055,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Iradimed during the 2nd quarter worth $568,000. 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.