iRadimed (NASDAQ:IRMD) Reaches New 12-Month High - Time to Buy?

Key Points

• iRadimed Corporation shares reached a new 52-week high of $73.48, closing at $72.97 after trading 4,210 shares.
• Wall Street Zen upgraded iRadimed's rating from "buy" to "strong-buy", while consensus ratings suggest a "Buy" with an average target price of $72.00.
• iRadimed announced a quarterly dividend of $0.17, providing a yield of 0.9%, with the ex-dividend date set for August 18th.

iRadimed Corporation (NASDAQ:IRMD - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $73.48 and last traded at $72.97, with a volume of 4210 shares trading hands. The stock had previously closed at $72.69.

Analyst Ratings Changes

Separately, Wall Street Zen raised iRadimed from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $72.00.

iRadimed Stock Performance

The firm's fifty day simple moving average is $62.94 and its 200 day simple moving average is $57.10. The firm has a market cap of $927.80 million, a P/E ratio of 45.02 and a beta of 0.94.

iRadimed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 18th. iRadimed's dividend payout ratio is presently 41.98%.

Insider Buying and Selling at iRadimed

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the business'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 transaction, the director owned 19,898 shares in the company, valued at approximately $1,374,951.80. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 36.80% of the company's stock.

Institutional Investors Weigh In On iRadimed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRMD. First Horizon Advisors Inc. lifted its position in iRadimed by 78.7% during the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 226 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of iRadimed by 191.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 495 shares during the period. Spire Wealth Management acquired a new stake in iRadimed in the 2nd quarter worth about $60,000. US Bancorp DE increased its position in iRadimed by 132.7% during the 1st quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 819 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in iRadimed in the 1st quarter valued at approximately $78,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.