Iradimed (NASDAQ:IRMD) Reaches New 52-Week High – Here’s What Happened

Shares of Iradimed Corporation (NASDAQ:IRMD) hit a new 52-week high during trading on Wednesday . The stock traded as high as $54.76 and last traded at $54.63, with a volume of 736 shares changing hands. The stock had previously closed at $52.74.

Wall Street Analyst Weigh In

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

Iradimed Stock Down 0.7 %

The business’s 50 day simple moving average is $49.50 and its two-hundred day simple moving average is $45.88. The stock has a market capitalization of $707.24 million, a P/E ratio of 38.23 and a beta of 0.79.

Iradimed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.07%. Iradimed’s payout ratio is 41.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC boosted its stake in Iradimed by 0.3% in the third quarter. Copeland Capital Management LLC now owns 422,425 shares of the medical equipment provider’s stock valued at $21,244,000 after acquiring an additional 1,433 shares during the last quarter. Bares Capital Management Inc. raised its holdings in shares of Iradimed by 0.7% in the 1st quarter. Bares Capital Management Inc. now owns 279,000 shares of the medical equipment provider’s stock worth $12,273,000 after purchasing an additional 2,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in Iradimed by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock valued at $9,620,000 after purchasing an additional 2,079 shares during the period. Hillsdale Investment Management Inc. increased its position in Iradimed by 8.6% in the first quarter. Hillsdale Investment Management Inc. now owns 97,400 shares of the medical equipment provider’s stock worth $4,285,000 after buying an additional 7,680 shares during the last quarter. Finally, Isthmus Partners LLC increased its position in Iradimed by 1.1% in the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 759 shares during the last quarter. Institutional investors own 92.34% of the company’s stock.

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.