Iradimed (NASDAQ:IRMD) Sets New 52-Week High – Time to Buy?

Iradimed Corporation (NASDAQ:IRMD) hit a new 52-week high on Monday . The stock traded as high as $52.45 and last traded at $51.69, with a volume of 1725 shares trading hands. The stock had previously closed at $51.81.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price objective on Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Iradimed Trading Down 1.3 %

The stock has a market capitalization of $647.76 million, a PE ratio of 36.74 and a beta of 0.79. The stock’s fifty day simple moving average is $47.71 and its 200-day simple moving average is $44.93.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, analysts anticipate that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 annualized dividend and a yield of 1.17%. Iradimed’s payout ratio is currently 42.55%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Isthmus Partners LLC lifted its holdings in 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 bought a new position in Iradimed in the 2nd quarter worth approximately $2,830,000. Roubaix Capital LLC purchased a new position in Iradimed in the 1st quarter valued at approximately $2,213,000. Kings Path Partners LLC bought a new stake in Iradimed during the 2nd quarter valued at $1,055,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Iradimed during the second quarter worth $568,000. Hedge funds and other 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.