Iradimed (NASDAQ:IRMD) Given Buy Rating at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Iradimed (NASDAQ:IRMD - Free Report) in a research note issued to investors on Friday,Benzinga reports. They currently have a $72.00 price objective on the medical equipment provider's stock, up from their prior price objective of $60.00.

Separately, StockNews.com lowered shares of Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 13th.

Iradimed Stock Up 3.2 %

NASDAQ:IRMD traded up $1.74 on Friday, hitting $56.97. The stock had a trading volume of 50,139 shares, compared to its average volume of 42,659. The company has a market cap of $721.81 million, a PE ratio of 39.02 and a beta of 0.82. Iradimed has a 52 week low of $40.18 and a 52 week high of $63.29. The business's fifty day moving average is $57.21 and its 200 day moving average is $52.25.

Iradimed (NASDAQ:IRMD - Get Free Report) last issued 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). The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $19.09 million. Iradimed had a return on equity of 23.99% and a net margin of 26.12%. Equities analysts predict that Iradimed will post 1.52 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. This is an increase from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, February 24th. Iradimed's payout ratio is currently 41.10%.

Insider Activity

In other 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 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 represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Iradimed

A number of hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in shares of Iradimed during the 4th quarter valued at $30,000. US Bancorp DE grew its position in Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 510 shares during the period. Huntington National Bank increased its holdings in Iradimed by 51.3% during the third 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 during the last quarter. Gladius Capital Management LP raised its position in Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock worth $87,000 after acquiring an additional 965 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Iradimed by 83.0% in 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 last quarter. 92.34% of the stock is currently owned by institutional investors.

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.