Iradimed (NASDAQ:IRMD) Sets New 12-Month High – Time to Buy?

Iradimed Corporation (NASDAQ:IRMD) shares reached a new 52-week high on Tuesday . The stock traded as high as $59.75 and last traded at $60.28, with a volume of 3792 shares traded. The stock had previously closed at $59.17.

Iradimed Price Performance

The stock’s fifty day simple moving average is $54.79 and its 200-day simple moving average is $50.32. The stock has a market cap of $765.00 million, a P/E ratio of 41.55 and a beta of 0.81.

Iradimed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, November 15th. Iradimed’s dividend payout ratio (DPR) is 41.10%.

Insider Buying and Selling

In other Iradimed news, CFO John Glenn sold 2,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the completion of the transaction, the chief financial officer now directly owns 4,383 shares of the company’s stock, valued at $237,470.94. The trade was a 36.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.10% of the stock is owned by company insiders.

Institutional Trading of Iradimed

Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. grew its stake in shares of Iradimed by 1.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 24,779 shares of the medical equipment provider’s stock worth $1,246,000 after purchasing an additional 472 shares in the last quarter. Huntington National Bank lifted its stake in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 504 shares during the period. Cim LLC lifted its stake in shares of Iradimed by 5.9% in the 2nd quarter. Cim LLC now owns 10,089 shares of the medical equipment provider’s stock worth $464,000 after acquiring an additional 561 shares during the period. Kings Path Partners LLC increased its stake in shares of Iradimed by 2.3% during the third quarter. Kings Path Partners LLC now owns 24,570 shares of the medical equipment provider’s stock valued at $1,236,000 after acquiring an additional 562 shares during the period. Finally, Gladius Capital Management LP boosted its stake in Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after purchasing an additional 965 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.