Iradimed Corporation (NASDAQ:IRMD) Sees Large Growth in Short Interest

Iradimed Corporation (NASDAQ:IRMD) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 74,400 shares, an increase of 8.9% from the September 15th total of 68,300 shares. Based on an average trading volume of 49,800 shares, the short-interest ratio is currently 1.5 days. Approximately 0.9% of the company’s shares are short sold.

Iradimed Stock Performance

Shares of IRMD stock opened at $51.55 on Thursday. Iradimed has a fifty-two week low of $37.51 and a fifty-two week high of $51.86. The business’s 50 day moving average price is $47.41 and its 200-day moving average price is $44.79. The firm has a market cap of $652.83 million, a P/E ratio of 36.56 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data 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 return on equity of 24.71% and a net margin of 26.83%. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. During the same period in the previous year, the firm posted $0.33 EPS. As a group, equities analysts predict that Iradimed will post 1.41 EPS for the current year.

Iradimed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.16%. Iradimed’s dividend payout ratio (DPR) is 42.55%.

Hedge Funds Weigh In On Iradimed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Iradimed in the 2nd quarter worth about $25,000. Isthmus Partners LLC increased its stake in shares of Iradimed by 1.1% during the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 759 shares in the last quarter. Comerica Bank lifted its holdings in shares of Iradimed by 2,151.6% during the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 1,377 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Iradimed in the 3rd quarter worth approximately $147,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Iradimed in the 1st quarter worth approximately $150,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Analyst Ratings Changes

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

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.