Iradimed Corporation (NASDAQ:IRMD) Short Interest Update

Iradimed Corporation (NASDAQ:IRMD) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 201,000 shares, a growth of 16.5% from the February 13th total of 172,600 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,800 shares, the days-to-cover ratio is presently 4.7 days.

Institutional Trading of Iradimed

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock worth $3,351,000 after purchasing an additional 43,635 shares during the period. Eagle Asset Management Inc. purchased a new position in Iradimed during the 3rd quarter worth $1,239,000. JPMorgan Chase & Co. raised its position in Iradimed by 70.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after buying an additional 12,051 shares during the last quarter. Principal Financial Group Inc. raised its position in Iradimed by 11.2% during the 4th quarter. Principal Financial Group Inc. now owns 5,440 shares of the medical equipment provider’s stock worth $299,000 after buying an additional 546 shares during the last quarter. Finally, Barclays PLC raised its position in Iradimed by 113.9% during the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after buying an additional 12,657 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Trading Up 1.5 %

IRMD stock traded up $0.80 during trading on Wednesday, reaching $52.85. 35,678 shares of the stock were exchanged, compared to its average volume of 43,886. The business has a 50 day moving average price of $56.91 and a 200-day moving average price of $53.55. Iradimed has a 1 year low of $40.18 and a 1 year high of $63.29. The firm has a market capitalization of $671.99 million, a price-to-earnings ratio of 35.23 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The business had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. On average, research analysts anticipate that Iradimed will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.17 dividend. This is a boost from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a dividend yield of 1.29%. Iradimed’s dividend payout ratio is presently 45.33%.

Analyst Ratings Changes

A number of brokerages have commented on IRMD. Roth Mkm restated a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com cut shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th.

About Iradimed

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.