Iradimed Corporation (NASDAQ:IRMD) Sees Significant Growth in Short Interest

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 105,000 shares, an increase of 22.0% from the November 30th total of 86,100 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 39,100 shares, the short-interest ratio is currently 2.7 days.

Iradimed Trading Down 0.2 %

NASDAQ IRMD traded down $0.09 on Tuesday, hitting $55.00. 21,902 shares of the company's stock traded hands, compared to its average volume of 48,271. The firm has a market capitalization of $697.02 million, a PE ratio of 37.67 and a beta of 0.82. Iradimed has a 1-year low of $40.18 and a 1-year high of $57.95. The firm's 50-day moving average price is $53.46 and its two-hundred day moving average price is $48.94.

Iradimed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, November 15th. Iradimed's payout ratio is 41.10%.

Insider Buying and Selling

In related news, CFO John Glenn sold 2,500 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now owns 4,383 shares in the company, valued at $237,470.94. This represents a 36.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Iradimed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Iradimed by 70.2% in the 3rd 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 in the last quarter. Principal Financial Group Inc. purchased a new stake in Iradimed during the third quarter worth $246,000. Wilmington Savings Fund Society FSB acquired a new stake in Iradimed during the third quarter valued at $126,000. Barclays PLC increased its holdings in Iradimed by 113.9% in the third 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 in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Iradimed by 9.8% in the third 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 during the period. 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.