Iradimed (NASDAQ:IRMD) Hits New 52-Week High – Time to Buy?

Iradimed Corporation (NASDAQ:IRMD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company 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.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their price objective on Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Iradimed Stock Performance

The stock’s 50 day simple moving average is $48.51 and its 200-day simple moving average is $45.32. The firm has a market cap of $670.05 million, a price-to-earnings ratio of 37.52 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $17.93 million during 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 last year, the business posted $0.33 EPS. On average, analysts expect that Iradimed Corporation will post 1.41 EPS for the current fiscal year.

Iradimed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.60 annualized dividend and a yield of 1.13%. Iradimed’s dividend payout ratio (DPR) is presently 42.55%.

Institutional Trading of Iradimed

Several institutional investors and hedge funds have recently bought and sold shares of IRMD. 1620 Investment Advisors Inc. acquired a new stake in shares of Iradimed in the second quarter worth $25,000. Comerica Bank raised its stake in shares of Iradimed by 2,151.6% during the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 1,377 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Iradimed during the 3rd quarter valued at about $147,000. EntryPoint Capital LLC acquired a new position in shares of Iradimed in the 1st quarter valued at about $150,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Iradimed in the first quarter worth about $183,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

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.