Iradimed Corporation Declares Quarterly Dividend of $0.15 (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.15 per share by the medical equipment provider on Monday, November 25th. This represents a $0.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, November 15th.

Iradimed has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Iradimed to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 37.7%.

Iradimed Stock Performance

Shares of NASDAQ IRMD traded up $0.50 during trading on Friday, hitting $49.77. The company had a trading volume of 2,660 shares, compared to its average volume of 48,936. The stock has a 50 day simple moving average of $48.93 and a 200 day simple moving average of $45.47. The firm has a market capitalization of $630.59 million, a P/E ratio of 33.75 and a beta of 0.79. Iradimed has a 12 month low of $39.24 and a 12 month high of $53.99.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $17.70 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, analysts predict that Iradimed will post 1.47 EPS for the current year.

Analyst Ratings Changes

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

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.