Iradimed Corporation (NASDAQ:IRMD) to Issue $0.15 Quarterly Dividend

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.15 per share by the medical equipment provider on Monday, November 25th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, November 15th.

Iradimed has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Iradimed to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 37.7%.

Iradimed Stock Performance

NASDAQ IRMD traded down $0.97 on Friday, reaching $48.30. The stock had a trading volume of 32,944 shares, compared to its average volume of 49,079. Iradimed has a 12-month low of $39.24 and a 12-month high of $53.99. The business's 50-day moving average price is $48.93 and its 200 day moving average price is $45.47. The stock has a market cap of $611.96 million, a P/E ratio of 33.75 and a beta of 0.79.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The business had revenue of $17.93 million for the quarter, compared to analyst estimates 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 company posted $0.33 earnings per share. On average, sell-side analysts predict that Iradimed will post 1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

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 report on Friday, August 2nd.

Iradimed Company Profile

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.