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 - ) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 151,800 shares, a drop 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 presently 2.8 days. Currently, 1.2% of the shares of the stock are sold short. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 53,500 shares, the days-to-cover ratio is presently 2.8 days.

Insider Activity at iRadimed

In other news, Director Monty K. Allen sold 1,102 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the transaction, the director directly owned 19,898 shares in the company, valued at approximately $1,374,951.80. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 36.80% of the company's stock.

Hedge Funds Weigh In On iRadimed

A number of large investors have recently modified their holdings of IRMD. First Horizon Advisors Inc. boosted its position in shares of iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 226 shares during the period. Tower Research Capital LLC TRC lifted its position in iRadimed by 191.1% during the second quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 495 shares during the last quarter. Spire Wealth Management bought a new stake in iRadimed during the second quarter valued at approximately $60,000. US Bancorp DE lifted its position in iRadimed by 132.7% during the first quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock valued at $75,000 after purchasing an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in iRadimed during the first quarter valued at approximately $78,000. 92.34% of the stock is currently owned by institutional investors.

iRadimed Trading Down 1.0%

IRMD stock opened at $70.76 on Thursday. The firm has a 50 day moving average of $66.79 and a 200-day moving average of $58.81. iRadimed has a 12 month low of $46.86 and a 12 month high of $74.43. The firm has a market capitalization of $900.07 million, a P/E ratio of 43.68 and a beta of 1.02.

iRadimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, August 18th. iRadimed's dividend payout ratio (DPR) is 41.98%.

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.

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