Iradimed (NASDAQ:IRMD) Hits New 1-Year High - Time to Buy?

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $52.94 and last traded at $52.68, with a volume of 3648 shares traded. The stock had previously closed at $52.03.

Analyst Upgrades and Downgrades

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

Iradimed Stock Performance

The company has a 50 day simple moving average of $48.51 and a two-hundred day simple moving average of $45.32. The firm has a market cap of $665.49 million, a PE ratio of 37.52 and a beta of 0.79.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its quarterly 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. The business had revenue of $17.93 million for the quarter, compared to the consensus estimate of $17.70 million. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, research analysts predict that Iradimed Corporation will post 1.41 earnings per share for the current fiscal year.

Iradimed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. Iradimed's payout ratio is 42.55%.

Institutional Trading of Iradimed

A number of hedge funds have recently modified their holdings of IRMD. Isthmus Partners LLC boosted its stake in shares of Iradimed by 880.8% in the first quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider's stock worth $3,163,000 after buying an additional 64,574 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in Iradimed in the 2nd quarter worth about $2,830,000. Roubaix Capital LLC acquired a new position in Iradimed in the 1st quarter worth about $2,213,000. Oak Ridge Investments LLC acquired a new position in Iradimed in the 3rd quarter worth about $2,188,000. Finally, Kings Path Partners LLC acquired a new position in Iradimed in the 2nd quarter worth about $1,055,000. Hedge funds and other 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.