Iradimed (NASDAQ:IRMD) Sees Large Volume Increase – Here’s Why

Iradimed Corporation (NASDAQ:IRMD) saw unusually-strong trading volume on Thursday . Approximately 75,065 shares traded hands during trading, an increase of 80% from the previous session’s volume of 41,818 shares.The stock last traded at $51.92 and had previously closed at $52.31.

Analysts Set New Price Targets

A number of research firms have issued reports on IRMD. Roth Mkm reissued a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. StockNews.com downgraded Iradimed from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

Iradimed Stock Up 2.0 %

The company has a market capitalization of $666.90 million, a PE ratio of 34.97 and a beta of 0.83. The company has a 50-day moving average price of $57.09 and a two-hundred day moving average price of $53.39.

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

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.17 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. This is an increase from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s payout ratio is currently 45.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new position in Iradimed during the 4th quarter valued at about $30,000. US Bancorp DE boosted its position in shares of Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 510 shares in the last quarter. Huntington National Bank boosted its position 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 worth $75,000 after purchasing an additional 504 shares in the last quarter. Gladius Capital Management LP boosted its position 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 in the last quarter. Finally, Quantbot Technologies LP lifted its position in 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 acquiring an additional 1,052 shares in the last quarter. Hedge funds and other 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.