Iradimed (NASDAQ:IRMD) Hits New 1-Year High – Should You Buy?

Iradimed Corporation (NASDAQ:IRMD) reached a new 52-week high during trading on Wednesday . The company traded as high as $58.81 and last traded at $58.52, with a volume of 3401 shares trading hands. The stock had previously closed at $57.52.

Iradimed Trading Up 1.5 %

The firm has a market capitalization of $739.60 million, a PE ratio of 39.97 and a beta of 0.81. The business has a 50-day moving average of $54.60 and a 200 day moving average of $49.89.

Iradimed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, November 15th. Iradimed’s payout ratio is currently 41.10%.

Insider Activity at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the transaction, the chief financial officer now owns 4,383 shares in the company, valued at $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC grew its stake in shares of Iradimed by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 422,425 shares of the medical equipment provider’s stock worth $21,244,000 after acquiring an additional 1,433 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Iradimed by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock worth $9,620,000 after acquiring an additional 2,079 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock worth $3,351,000 after acquiring an additional 43,635 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Iradimed by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,971 shares of the medical equipment provider’s stock worth $2,547,000 after acquiring an additional 4,363 shares during the period. Finally, Oak Ridge Investments LLC bought a new position in shares of Iradimed during the 3rd quarter worth $2,188,000. Institutional investors own 92.34% of the company’s stock.

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.