Iradimed Corporation (NASDAQ:IRMD) to Issue $0.15 Quarterly Dividend

Iradimed Corporation (NASDAQ:IRMD) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.15 per share by the medical equipment provider on Thursday, May 30th. This represents a $0.60 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, May 17th.

Iradimed has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Iradimed to earn $1.72 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 34.9%.

Iradimed Stock Performance

IRMD traded up $0.85 during trading on Friday, hitting $44.70. 62,939 shares of the stock were exchanged, compared to its average volume of 52,340. The firm has a 50 day simple moving average of $42.62 and a 200 day simple moving average of $43.14. The firm has a market cap of $565.90 million, a price-to-earnings ratio of 32.87 and a beta of 0.86. Iradimed has a 1 year low of $36.12 and a 1 year high of $51.04.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a net margin of 26.22% and a return on equity of 24.62%. The company had revenue of $17.45 million during the quarter. As a group, equities analysts anticipate that Iradimed will post 1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Roth Capital reiterated a “buy” rating on shares of Iradimed in a report on Monday, April 22nd. Roth Mkm restated a “buy” rating and issued a $65.00 price target on shares of Iradimed in a research note on Monday, April 22nd. Finally, Singular Research restated a “buy” rating on shares of Iradimed in a report on Monday, April 1st.

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.