Short Interest in Iradimed Corporation (NASDAQ:IRMD) Expands By 8.9%

Iradimed Corporation (NASDAQ:IRMD) was the target of a large 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. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 49,800 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price objective on Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd.

Iradimed Price Performance

Iradimed stock traded up $1.36 during midday trading on Wednesday, hitting $51.71. 16,183 shares of the company were exchanged, compared to its average volume of 50,279. The company’s fifty day moving average price is $47.25 and its 200-day moving average price is $44.74. The company has a market cap of $654.86 million, a PE ratio of 35.71 and a beta of 0.79. Iradimed has a fifty-two week low of $37.51 and a fifty-two week high of $51.86.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results 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 firm 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 period in the previous year, the company posted $0.33 EPS. On average, analysts expect that Iradimed will post 1.41 EPS for the current fiscal year.

Iradimed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, August 20th. Iradimed’s dividend payout ratio (DPR) is presently 42.55%.

Institutional Investors Weigh In On Iradimed

Several hedge funds and other institutional investors have recently bought and sold shares of IRMD. 1620 Investment Advisors Inc. purchased a new stake in Iradimed during the 2nd quarter worth approximately $25,000. Isthmus Partners LLC increased its holdings in shares of Iradimed by 1.1% in the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 759 shares during the last quarter. Comerica Bank increased its holdings in shares of Iradimed by 2,151.6% in the 1st 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 during the last quarter. SG Americas Securities LLC bought a new stake in shares of Iradimed in the 3rd quarter valued at approximately $147,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Iradimed in the 1st quarter valued at approximately $150,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

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.