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

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.15 per share by the medical equipment provider on Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, August 20th.

Iradimed has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Iradimed to earn $1.71 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 35.1%.

Iradimed Stock Down 1.1 %

Shares of NASDAQ IRMD opened at $44.62 on Monday. The stock’s fifty day simple moving average is $44.53 and its 200 day simple moving average is $43.59. The stock has a market capitalization of $565.07 million, a price-to-earnings ratio of 31.65 and a beta of 0.83. Iradimed has a 52-week low of $36.12 and a 52-week high of $50.93.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. Iradimed had a return on equity of 25.18% and a net margin of 26.83%. During the same quarter last year, the business posted $0.33 EPS. As a group, analysts anticipate that Iradimed will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

IRMD has been the subject of several research analyst reports. Roth Capital restated a “buy” rating on shares of Iradimed in a research report on Monday, April 22nd. Roth Mkm cut their target price on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd.

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.