Iradimed (NASDAQ:IRMD) Shares Gap Up to $44.00

Iradimed Corporation (NASDAQ:IRMD)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $44.00, but opened at $44.95. Iradimed shares last traded at $44.95, with a volume of 308 shares traded.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered 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.

Iradimed Trading Up 0.2 %

The company has a fifty day moving average of $44.60 and a 200-day moving average of $43.61. The company has a market capitalization of $570.26 million, a price-to-earnings ratio of 31.88 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last issued its quarterly 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. Iradimed had a return on equity of 25.18% and a net margin of 26.83%. The firm had revenue of $17.93 million for the quarter, compared to analyst estimates of $17.70 million. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that Iradimed Corporation will post 1.41 EPS for the current year.

Iradimed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, August 20th. Iradimed’s dividend payout ratio (DPR) is 42.55%.

Hedge Funds Weigh In On Iradimed

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Isthmus Partners LLC grew its holdings in Iradimed by 880.8% in the 1st quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider’s stock valued at $3,163,000 after buying an additional 64,574 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in shares of Iradimed in the second quarter valued at about $2,830,000. Roubaix Capital LLC purchased a new stake in shares of Iradimed in the first quarter valued at about $2,213,000. RK Capital Management LLC increased its position in Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after purchasing an additional 39,600 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new position in Iradimed during the second quarter worth about $1,055,000. 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.