Iradimed (NASDAQ:IRMD) Sets New 12-Month High – What’s Next?

Iradimed Corporation (NASDAQ:IRMD)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $58.81 and last traded at $58.52, with a volume of 3401 shares traded. The stock had previously closed at $57.52.

Iradimed Trading Down 0.7 %

The stock’s 50 day moving average is $54.70 and its 200 day moving average is $50.02. The stock has a market capitalization of $739.42 million, a price-to-earnings ratio of 39.97 and a beta of 0.81.

Iradimed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were given a $0.15 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. Iradimed’s dividend payout ratio is presently 41.10%.

Insider Buying and Selling

In other Iradimed news, CFO John Glenn sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction of $135,450.00. Following the sale, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 37.10% of the company’s stock.

Institutional Trading of Iradimed

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Iradimed by 189.7% in 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 purchasing an additional 43,635 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Iradimed during the third quarter valued at approximately $2,188,000. Eagle Asset Management Inc. purchased a new position in shares of Iradimed during the third quarter valued at approximately $1,239,000. Albert D Mason Inc. acquired a new stake in Iradimed during the third quarter worth approximately $737,000. Finally, Barclays PLC grew its stake in Iradimed by 113.9% in the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after acquiring an additional 12,657 shares during the period. 92.34% of the stock is currently owned by hedge funds and other 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.