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

Iradimed Corporation (NASDAQ:IRMD)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $58.00 and last traded at $57.11, with a volume of 30305 shares traded. The stock had previously closed at $56.71.

Iradimed Stock Down 2.8 %

The company has a market capitalization of $717.17 million, a P/E ratio of 38.76 and a beta of 0.81. The business has a 50 day moving average of $54.19 and a 200 day moving average of $49.52.

Iradimed Dividend Announcement

The firm 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, November 15th. Iradimed’s dividend payout ratio (DPR) is presently 41.10%.

Insider Buying and Selling

In other Iradimed news, CFO John Glenn sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the transaction, the chief financial officer now owns 4,383 shares in the company, valued at $237,470.94. The trade was a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 37.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iradimed

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Iradimed by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after purchasing an additional 12,051 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Iradimed in the 3rd quarter worth about $246,000. Wilmington Savings Fund Society FSB bought a new stake in Iradimed during the 3rd quarter valued at about $126,000. Barclays PLC boosted its position in 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. Finally, Stifel Financial Corp grew its stake in Iradimed by 9.8% in the 3rd quarter. Stifel Financial Corp now owns 24,428 shares of the medical equipment provider’s stock worth $1,229,000 after acquiring an additional 2,174 shares in the last quarter. 92.34% of the stock is currently owned by 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.