Iradimed Corporation (NASDAQ:IRMD) Short Interest Up 8.9% in September

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 74,400 shares, a growth of 8.9% from the September 15th total of 68,300 shares. Based on an average daily volume of 49,800 shares, the short-interest ratio is currently 1.5 days. Currently, 0.9% of the company's stock are sold short.

Iradimed Stock Performance

IRMD stock traded up $1.20 during mid-day trading on Wednesday, hitting $51.55. The company had a trading volume of 30,098 shares, compared to its average volume of 50,349. The firm has a market cap of $652.83 million, a PE ratio of 35.71 and a beta of 0.79. Iradimed has a 12 month low of $37.51 and a 12 month high of $51.86. The stock's fifty day moving average price is $47.25 and its two-hundred day moving average price is $44.74.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, topping the consensus estimate 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 net margin of 26.83% and a return on equity of 24.71%. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities analysts anticipate that Iradimed will post 1.41 earnings per share for the current year.

Iradimed Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.16%. Iradimed's payout ratio is 42.55%.

Hedge Funds Weigh In On Iradimed

Several large investors have recently modified their holdings of IRMD. 1620 Investment Advisors Inc. purchased a new position in shares of Iradimed in the second quarter worth about $25,000. Isthmus Partners LLC increased its stake in shares of Iradimed by 1.1% in the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 759 shares in the last quarter. Comerica Bank grew its stake in Iradimed by 2,151.6% during the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider's stock valued at $63,000 after acquiring an additional 1,377 shares in the last quarter. SG Americas Securities LLC bought a new stake in Iradimed during the 3rd quarter worth approximately $147,000. Finally, EntryPoint Capital LLC bought a new stake in Iradimed during the 1st quarter worth approximately $150,000. Hedge funds and other institutional investors own 92.34% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their price objective on shares of Iradimed from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd.

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.