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

Shares of Iradimed Corporation (NASDAQ:IRMD) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.02 and last traded at $60.97, with a volume of 7779 shares. The stock had previously closed at $59.93.

Iradimed Stock Up 1.3 %

The company has a market cap of $769.07 million, a P/E ratio of 41.58 and a beta of 0.81. The business has a fifty day simple moving average of $55.41 and a two-hundred day simple moving average of $50.87.

Iradimed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. Iradimed’s dividend payout ratio is currently 41.10%.

Insiders Place Their Bets

In other Iradimed news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction 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. This trade represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Iradimed in the fourth quarter worth about $30,000. Huntington National Bank lifted its stake in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after purchasing an additional 504 shares during the last quarter. Gladius Capital Management LP boosted its holdings in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 965 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 1,052 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Iradimed during the 3rd quarter valued at $126,000. Institutional investors own 92.34% of the company’s stock.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.