Short Interest in Iradimed Corporation (NASDAQ:IRMD) Decreases By 20.6%

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 188,100 shares, a drop of 20.6% from the March 15th total of 237,000 shares. Approximately 2.4% of the company's stock are short sold. Based on an average daily trading volume, of 40,500 shares, the short-interest ratio is currently 4.6 days.

Institutional Trading of Iradimed

Several hedge funds and other institutional investors have recently bought and sold shares of IRMD. R Squared Ltd acquired a new stake in Iradimed during the fourth quarter worth about $30,000. US Bancorp DE lifted 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 acquiring an additional 510 shares during the period. Huntington National Bank grew its holdings in shares of Iradimed by 34.0% during the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock worth $110,000 after purchasing an additional 506 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed during the third quarter valued at approximately $126,000. Finally, State of Wyoming acquired a new position in shares of Iradimed in the fourth quarter valued at $149,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com lowered Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Roth Mkm reiterated 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.

Iradimed Stock Up 1.2 %

Shares of NASDAQ:IRMD traded up $0.64 on Wednesday, reaching $52.73. The company had a trading volume of 37,254 shares, compared to its average volume of 44,640. The stock has a market capitalization of $670.46 million, a P/E ratio of 35.15 and a beta of 0.82. The stock has a 50-day moving average price of $52.78 and a 200 day moving average price of $54.17. Iradimed has a twelve month low of $40.55 and a twelve month high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. On average, sell-side analysts predict that Iradimed will post 1.66 earnings per share for the current fiscal year.

Iradimed Increases Dividend

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

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.