Iradimed (NASDAQ:IRMD) Hits New 1-Year High - Should You Buy?

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.45 and last traded at $51.69, with a volume of 1725 shares. The stock had previously closed at $51.81.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their price target on Iradimed from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, August 2nd.

Iradimed Stock Performance

The firm has a 50 day moving average of $47.86 and a two-hundred day moving average of $45.00. The stock has a market cap of $648.65 million, a P/E ratio of 36.33 and a beta of 0.79.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. The firm had revenue of $17.93 million during the quarter, compared to the consensus estimate of $17.70 million. During the same quarter in the prior year, the company earned $0.33 EPS. On average, sell-side analysts anticipate that Iradimed Corporation will post 1.41 EPS for the current fiscal year.

Iradimed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.60 annualized dividend and a yield of 1.17%. Iradimed's payout ratio is 42.55%.

Institutional Trading of Iradimed

A number of hedge funds have recently modified their holdings of the company. Copeland Capital Management LLC lifted its position in shares of Iradimed by 0.3% in the 3rd quarter. Copeland Capital Management LLC now owns 422,425 shares of the medical equipment provider's stock worth $21,244,000 after acquiring an additional 1,433 shares during the period. Bares Capital Management Inc. lifted its position in shares of Iradimed by 0.7% in the 1st quarter. Bares Capital Management Inc. now owns 279,000 shares of the medical equipment provider's stock worth $12,273,000 after acquiring an additional 2,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Iradimed by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider's stock worth $9,620,000 after acquiring an additional 2,079 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Iradimed by 8.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 97,400 shares of the medical equipment provider's stock worth $4,285,000 after acquiring an additional 7,680 shares during the period. Finally, Isthmus Partners LLC lifted its position in shares of Iradimed by 1.1% in the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider's stock worth $32,000 after acquiring an additional 759 shares during the period. Institutional investors own 92.34% of the company's stock.

About Iradimed

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.