iRadimed Corporation (NASDAQ:IRMD) Short Interest Update

Key Points

• iRadimed Corporation experienced a **21.5% decline** in short interest in August, with a total of **151,800 shares** sold short as of August 31st.
• Director Monty K. Allen sold **1,102 shares** of iRadimed stock at an average price of **$69.10**, decreasing his ownership by **5.25%**.
• The company declared a quarterly dividend of **$0.17**, resulting in a **1.0% dividend yield** and a payout ratio of **41.98%**.

iRadimed Corporation (NASDAQ:IRMD - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 151,800 shares, a decrease of 21.5% from the August 15th total of 193,300 shares. Based on an average trading volume of 53,500 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.2% of the company's stock are sold short. Approximately 1.2% of the company's stock are sold short. Based on an average trading volume of 53,500 shares, the days-to-cover ratio is currently 2.8 days.

iRadimed Stock Up 0.3%

Shares of NASDAQ IRMD traded up $0.19 during trading hours on Monday, hitting $70.71. The company had a trading volume of 56,480 shares, compared to its average volume of 42,599. The stock has a market capitalization of $899.43 million, a P/E ratio of 43.65 and a beta of 1.01. iRadimed has a 1-year low of $46.86 and a 1-year high of $74.43. The firm's 50 day moving average is $67.56 and its 200-day moving average is $59.28.

iRadimed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, August 18th. iRadimed's dividend payout ratio is presently 41.98%.

Insider Buying and Selling

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total transaction of $76,148.20. Following the completion of the transaction, the director owned 19,898 shares of the company's stock, valued at $1,374,951.80. This represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Roger E. Susi sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $71.27, for a total value of $356,350.00. Following the transaction, the chief executive officer directly owned 2,357,500 shares of the company's stock, valued at approximately $168,019,025. This trade represents a 0.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 36.80% of the company's stock.

Institutional Investors Weigh In On iRadimed

Several large investors have recently made changes to their positions in IRMD. Ameriprise Financial Inc. boosted its holdings in shares of iRadimed by 11.0% in the 4th quarter. Ameriprise Financial Inc. now owns 18,125 shares of the medical equipment provider's stock valued at $997,000 after buying an additional 1,792 shares during the last quarter. Bank of America Corp DE raised its stake in iRadimed by 8.1% in the 4th quarter. Bank of America Corp DE now owns 25,971 shares of the medical equipment provider's stock valued at $1,428,000 after acquiring an additional 1,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in iRadimed by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock valued at $252,000 after acquiring an additional 204 shares during the period. Snowden Capital Advisors LLC bought a new stake in iRadimed in the 4th quarter valued at $229,000. Finally, State of Wyoming bought a new stake in iRadimed in the 4th quarter valued at $149,000. Institutional investors and hedge funds own 92.34% of the company's stock.

About iRadimed

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.