Iradimed Corporation (NASDAQ:IRMD) Short Interest Down 20.6% in March

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 188,100 shares, a drop of 20.6% from the March 15th total of 237,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 40,500 shares, the days-to-cover ratio is presently 4.6 days.

Iradimed Stock Up 0.7 %

Shares of NASDAQ:IRMD traded up $0.38 during trading on Friday, hitting $53.51. 12,592 shares of the stock traded hands, compared to its average volume of 44,397. The company has a fifty day moving average price of $52.69 and a two-hundred day moving average price of $54.19. Iradimed has a 52-week low of $40.55 and a 52-week high of $63.29. The company has a market cap of $680.38 million, a price-to-earnings ratio of 35.67 and a beta of 0.82.

Iradimed (NASDAQ:IRMD - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. On average, equities research analysts predict that Iradimed will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.17 per share. This is a positive change from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. Iradimed's dividend payout ratio (DPR) is 45.33%.

Analyst Ratings Changes

Several brokerages recently issued reports on IRMD. Roth Mkm reissued a "buy" rating and set a $72.00 target price (up previously from $60.00) on shares of Iradimed in a report on Friday, February 14th. StockNews.com cut Iradimed from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th.

Institutional Investors Weigh In On Iradimed

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Iradimed by 4.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock worth $252,000 after purchasing an additional 204 shares in the last quarter. Shaker Investments LLC OH raised its holdings in shares of Iradimed by 0.8% during the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider's stock valued at $1,644,000 after acquiring an additional 233 shares during the last quarter. Albert D Mason Inc. raised its holdings in shares of Iradimed by 2.0% during the first quarter. Albert D Mason Inc. now owns 17,269 shares of the medical equipment provider's stock valued at $906,000 after acquiring an additional 333 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Iradimed by 9.6% in the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider's stock valued at $228,000 after acquiring an additional 362 shares in the last quarter. Finally, Bridge City Capital LLC boosted its stake in shares of Iradimed by 0.8% in the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider's stock worth $3,404,000 after acquiring an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company's stock.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.