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

Iradimed Corporation (NASDAQ:IRMD)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $58.00 and last traded at $57.11, with a volume of 30305 shares trading hands. The stock had previously closed at $56.71.

Iradimed Stock Up 2.6 %

The firm has a market capitalization of $737.70 million, a price-to-earnings ratio of 39.87 and a beta of 0.81. The firm has a 50 day moving average of $53.91 and a two-hundred day moving average of $49.40.

Iradimed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, November 15th. Iradimed’s dividend payout ratio is 41.10%.

Insider Activity at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at approximately $237,470.94. This trade represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IRMD. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $3,351,000 after purchasing an additional 43,635 shares during the period. Oak Ridge Investments LLC acquired a new stake in Iradimed during the 3rd quarter worth about $2,188,000. Eagle Asset Management Inc. bought a new position in shares of Iradimed in the 3rd quarter worth about $1,239,000. Albert D Mason Inc. bought a new stake in Iradimed in the third quarter worth approximately $737,000. Finally, Barclays PLC lifted its position in shares of Iradimed by 113.9% during the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock valued at $1,196,000 after acquiring an additional 12,657 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Company Profile

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.