Iradimed Corporation (NASDAQ:IRMD) Sees Large Increase in Short Interest

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 124,100 shares, a growth of 18.2% from the December 15th total of 105,000 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average trading volume of 39,400 shares, the days-to-cover ratio is currently 3.1 days.

Iradimed Price Performance

IRMD stock traded up $0.81 on Monday, hitting $59.17. 50,168 shares of the company were exchanged, compared to its average volume of 37,022. The stock has a market capitalization of $749.86 million, a price-to-earnings ratio of 40.53 and a beta of 0.81. The business's fifty day moving average is $54.79 and its two-hundred day moving average is $50.32. Iradimed has a twelve month low of $40.18 and a twelve month high of $59.31.

Iradimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.01%. Iradimed's dividend payout ratio is currently 41.10%.

Insider Activity

In other news, CFO John Glenn sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the completion of the transaction, the chief financial officer now directly owns 4,383 shares of the company's stock, valued at $237,470.94. This trade represents a 36.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 37.10% of the company's stock.

Institutional Trading of Iradimed

A number of hedge funds have recently made changes to their positions in IRMD. Huntington National Bank grew its holdings in 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 buying 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 valued at $87,000 after purchasing an additional 965 shares during the period. Quantbot Technologies LP raised its holdings in shares of Iradimed by 83.0% during the third 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 during the period. Wilmington Savings Fund Society FSB acquired a new stake in Iradimed during the 3rd quarter valued at $126,000. Finally, SG Americas Securities LLC purchased a new stake in Iradimed in the 3rd quarter worth about $147,000. Institutional investors and hedge funds 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.