Iradimed (NASDAQ:IRMD) Reaches New 12-Month High – Still a Buy?

Iradimed Corporation (NASDAQ:IRMD)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $59.75 and last traded at $60.28, with a volume of 3792 shares. The stock had previously closed at $59.17.

Iradimed Stock Performance

The company has a market cap of $751.58 million, a P/E ratio of 40.63 and a beta of 0.81. The firm has a 50 day moving average price of $54.94 and a 200-day moving average price of $50.50.

Iradimed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were given a dividend of $0.15 per share. 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 1.01%. Iradimed’s payout ratio is currently 41.10%.

Insider Buying and Selling at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the business’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 completion of the transaction, the chief financial officer now owns 4,383 shares of the company’s stock, valued at approximately $237,470.94. The trade was a 36.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. R Squared Ltd acquired a new stake in shares of Iradimed in the fourth quarter worth $30,000. Huntington National Bank increased its holdings in 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 buying an additional 504 shares during the period. Gladius Capital Management LP raised its stake 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 valued at $87,000 after buying an additional 965 shares in the last quarter. Quantbot Technologies LP raised its stake 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 valued at $117,000 after buying an additional 1,052 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Iradimed during the 3rd quarter worth about $126,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

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.