Iradimed (NASDAQ:IRMD) Sees Strong Trading Volume - Time to Buy?

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) shares saw an uptick in trading volume on Thursday . 75,065 shares changed hands during mid-day 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IRMD. Roth Mkm reissued a "buy" rating and issued a $72.00 price target (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com cut Iradimed from a "strong-buy" rating to a "buy" rating in a research note on Thursday.

Iradimed Price Performance

The firm has a market cap of $647.84 million, a P/E ratio of 34.08 and a beta of 0.83. The firm's 50-day moving average price is $57.22 and its 200 day moving average price is $53.37.

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

Iradimed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.17 per share. This is a positive change from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 24th. This represents a $0.68 annualized dividend and a yield of 1.33%. Iradimed's payout ratio is presently 45.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IRMD. Principal Financial Group Inc. acquired a new stake in Iradimed during the third quarter worth about $246,000. Huntington National Bank raised its position in shares of Iradimed by 51.3% during 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 during the period. Gladius Capital Management LP lifted its holdings 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 during the last quarter. Quest Partners LLC lifted its holdings in shares of Iradimed by 32.9% in the 3rd quarter. Quest Partners LLC now owns 13,071 shares of the medical equipment provider's stock worth $657,000 after purchasing an additional 3,236 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Iradimed by 54.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,385 shares of the medical equipment provider's stock valued at $673,000 after purchasing an additional 4,708 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.

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.

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