Iradimed (NASDAQ:IRMD) Shares Gap Up to $44.00

Iradimed Corporation (NASDAQ:IRMD) gapped up prior to trading on Thursday . The stock had previously closed at $44.00, but opened at $44.95. Iradimed shares last traded at $44.95, with a volume of 308 shares.

Wall Street Analysts Forecast Growth

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

Iradimed Stock Performance

The company has a market capitalization of $570.26 million, a P/E ratio of 31.88 and a beta of 0.83. The business’s fifty day simple moving average is $44.60 and its 200-day simple moving average is $43.61.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. Iradimed had a return on equity of 25.18% and a net margin of 26.83%. During the same quarter last year, the business posted $0.33 earnings per share. As a group, analysts forecast that Iradimed Corporation will post 1.41 EPS for the current year.

Iradimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Iradimed’s dividend payout ratio (DPR) is 42.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. RK Capital Management LLC grew its position in Iradimed by 13.2% in the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after acquiring an additional 39,600 shares in the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of Iradimed by 5.4% in the 4th quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after purchasing an additional 11,465 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Iradimed during the 1st quarter valued at approximately $476,000. Sequoia Financial Advisors LLC purchased a new stake in Iradimed during the 2nd quarter valued at $568,000. Finally, Russell Investments Group Ltd. lifted its position in Iradimed by 2.3% in the fourth quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock worth $10,030,000 after buying an additional 4,715 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

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.