Iradimed (NASDAQ:IRMD) Sets New 12-Month High – What’s Next?

Iradimed Corporation (NASDAQ:IRMD) shares reached a new 52-week high on Wednesday . The company traded as high as $58.81 and last traded at $58.52, with a volume of 3401 shares traded. The stock had previously closed at $57.52.

Iradimed Stock Up 1.5 %

The company has a market cap of $739.60 million, a price-to-earnings ratio of 39.97 and a beta of 0.81. The stock has a fifty day moving average price of $54.60 and a two-hundred day moving average price of $49.89.

Iradimed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, November 15th. Iradimed’s dividend payout ratio (DPR) is currently 41.10%.

Insider Transactions at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the company’s 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 in the company, valued at $237,470.94. This represents 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 hyperlink. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On Iradimed

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Iradimed by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock valued at $1,470,000 after buying an additional 12,051 shares during the period. Principal Financial Group Inc. acquired a new position in Iradimed in the third quarter valued at approximately $246,000. Wilmington Savings Fund Society FSB acquired a new position in Iradimed in the third quarter valued at approximately $126,000. Barclays PLC lifted its stake in Iradimed by 113.9% in the third 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. Finally, Stifel Financial Corp lifted its stake in Iradimed by 9.8% in the third quarter. Stifel Financial Corp now owns 24,428 shares of the medical equipment provider’s stock valued at $1,229,000 after buying an additional 2,174 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.

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.