iRadimed (NASDAQ:IRMD) Hits New 1-Year High - Still a Buy?

Key Points

• iRadimed Corporation's stock reached a new 52-week high of $78.44 during trading, with a last trading price of $78.17 and a volume of 26,651 shares.
• Analysts have given iRadimed a consensus buy rating with an average price target of $72.00, and Weiss Ratings recently upgraded it to a "buy (b-)" rating.
• The company announced a quarterly dividend of $0.17 per share, reflecting a dividend yield of 0.9% and a payout ratio of 41.98%.

Shares of iRadimed Corporation (NASDAQ:IRMD - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $78.44 and last traded at $78.17, with a volume of 26651 shares. The stock had previously closed at $77.58.

Analyst Upgrades and Downgrades

IRMD has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of iRadimed in a research report on Wednesday, October 8th. Wall Street Zen raised iRadimed from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 18th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $72.00.

iRadimed Trading Up 0.4%

The firm has a 50-day simple moving average of $72.10 and a two-hundred day simple moving average of $62.27. The company has a market capitalization of $990.57 million, a price-to-earnings ratio of 48.07 and a beta of 1.02.

iRadimed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 18th. iRadimed's dividend payout ratio (DPR) is presently 41.98%.

Insider Activity at iRadimed

In other news, CEO Roger E. Susi sold 5,000 shares of iRadimed stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $74.82, for a total transaction of $374,100.00. Following the sale, the chief executive officer owned 2,332,500 shares of the company's stock, valued at approximately $174,517,650. This trade represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Monty K. Allen sold 1,102 shares of iRadimed stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total value of $76,148.20. Following the sale, the director directly owned 19,898 shares in the company, valued at $1,374,951.80. The trade was a 5.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,102 shares of company stock worth $2,235,398 in the last three months. 36.80% of the stock is owned by insiders.

Institutional Investors Weigh In On iRadimed

A number of institutional investors have recently made changes to their positions in the stock. Jump Financial LLC lifted its holdings in iRadimed by 4.9% during the first quarter. Jump Financial LLC now owns 4,300 shares of the medical equipment provider's stock worth $226,000 after acquiring an additional 200 shares in the last quarter. CWM LLC lifted its holdings in shares of iRadimed by 62.2% in the third quarter. CWM LLC now owns 550 shares of the medical equipment provider's stock valued at $39,000 after purchasing an additional 211 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings 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 purchasing an additional 226 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of iRadimed by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,811 shares of the medical equipment provider's stock valued at $252,000 after purchasing an additional 234 shares in the last quarter. Finally, Martingale Asset Management L P raised its holdings in iRadimed by 2.4% during the first quarter. Martingale Asset Management L P now owns 12,831 shares of the medical equipment provider's stock worth $673,000 after acquiring an additional 300 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

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.

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