Iradimed (NASDAQ:IRMD) Hits New 52-Week High – What’s Next?

Iradimed Corporation (NASDAQ:IRMD)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $61.02 and last traded at $60.97, with a volume of 7779 shares traded. The stock had previously closed at $59.93.

Iradimed Trading Up 1.3 %

The stock has a market capitalization of $769.07 million, a price-to-earnings ratio of 41.58 and a beta of 0.81. The company’s 50-day simple moving average is $55.41 and its 200-day simple moving average is $50.87.

Iradimed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, November 15th. Iradimed’s dividend payout ratio is currently 41.10%.

Insider Activity

In other Iradimed news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the transaction, the chief financial officer now owns 4,383 shares of the company’s stock, valued at $237,470.94. This trade represents a 36.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Iradimed during the fourth quarter valued at about $30,000. Huntington National Bank lifted its stake 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 valued at $75,000 after buying an additional 504 shares in the last quarter. Gladius Capital Management LP boosted its holdings in 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 buying an additional 965 shares during the period. Quantbot Technologies LP boosted its holdings in Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Iradimed in the 3rd quarter valued at approximately $126,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

About Iradimed

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.