Iradimed (NASDAQ:IRMD) Sets New 52-Week High – Time to Buy?

Iradimed Corporation (NASDAQ:IRMD)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.81 and last traded at $58.52, with a volume of 3401 shares. The stock had previously closed at $57.52.

Iradimed Stock Down 0.7 %

The stock has a market capitalization of $739.42 million, a PE ratio of 39.97 and a beta of 0.81. The firm’s fifty day moving average is $54.70 and its 200-day moving average is $50.02.

Iradimed Dividend Announcement

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

Insider Activity

In other Iradimed news, CFO John Glenn sold 2,500 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. This represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On Iradimed

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank lifted its stake in shares of Iradimed by 51.3% in the third 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 period. Gladius Capital Management LP lifted its position in shares of Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after acquiring an additional 965 shares during the period. Quantbot Technologies LP boosted its stake in shares of Iradimed by 83.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after acquiring an additional 1,052 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Iradimed in the 3rd quarter worth approximately $126,000. Finally, SG Americas Securities LLC purchased a new position in Iradimed in the 3rd quarter valued at approximately $147,000. 92.34% of the stock is owned by institutional investors and hedge funds.

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.