Iradimed Corporation (NASDAQ:IRMD) Announces $0.15 Quarterly Dividend

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given 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 1.05%. The ex-dividend date is Friday, November 15th.

Iradimed has a dividend payout ratio of 34.3% meaning 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 Down 0.7 %

NASDAQ IRMD opened at $56.95 on Wednesday. The company has a market capitalization of $721.56 million, a P/E ratio of 39.01 and a beta of 0.79. Iradimed has a 12-month low of $39.24 and a 12-month high of $57.95. The firm has a 50-day moving average price of $50.12 and a two-hundred day moving average price of $46.25.

Analysts Set New Price Targets

Separately, Roth Mkm cut their price objective on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating for the company 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.