Iradimed Corporation (NASDAQ:IRMD) Short Interest Update

Iradimed Corporation (NASDAQ:IRMD) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 105,000 shares, an increase of 22.0% from the November 30th total of 86,100 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 39,100 shares, the short-interest ratio is presently 2.7 days.

Insider Buying and Selling at Iradimed

In other news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total value of $135,450.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRMD. Charles Schwab Investment Management Inc. lifted its holdings in Iradimed by 189.7% during 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 buying an additional 43,635 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in Iradimed in the third quarter valued at $2,188,000. Eagle Asset Management Inc. purchased a new stake in Iradimed during the 3rd quarter worth about $1,239,000. Albert D Mason Inc. acquired a new stake in Iradimed in the 3rd quarter valued at about $737,000. Finally, Barclays PLC boosted its stake in shares of Iradimed by 113.9% in the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock valued at $1,196,000 after buying an additional 12,657 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Stock Down 0.2 %

IRMD traded down $0.09 during trading on Tuesday, reaching $55.00. The company’s stock had a trading volume of 21,902 shares, compared to its average volume of 48,247. Iradimed has a 1 year low of $40.18 and a 1 year high of $57.95. The company has a market cap of $696.85 million, a price-to-earnings ratio of 37.67 and a beta of 0.82. The firm has a fifty day simple moving average of $53.38 and a two-hundred day simple moving average of $48.86.

Iradimed Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 15th. Iradimed’s dividend payout ratio is currently 41.10%.

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.