iRadimed (NASDAQ:IRMD) Reaches New 52-Week High - Time to Buy?

Key Points

• iRadimed Corporation reached a new 52-week high of $74.32, with its last trade at $74.19, representing a notable increase in stock performance.
• The company recently declared a quarterly dividend of $0.17, reflecting a 0.9% dividend yield, with a payout ratio of 41.98%.
• Institutional investors now own 92.34% of iRadimed's stock, with recent significant purchases made by firms like First Horizon Advisors and Tower Research Capital.

iRadimed Corporation (NASDAQ:IRMD - ) reached a new 52-week high during trading on Thursday . The company traded as high as $74.32 and last traded at $74.19, with a volume of 26119 shares traded. The stock had previously closed at $71.52.

iRadimed Trading Up 3.8%

The company has a market cap of $944.71 million, a price-to-earnings ratio of 45.85 and a beta of 1.02. The business has a 50-day moving average price of $65.63 and a 200 day moving average price of $58.21.

iRadimed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. iRadimed's dividend payout ratio is 41.98%.

Insiders Place Their Bets

In related news, Director Monty K. Allen sold 1,102 shares of the firm's stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 36.80% of the stock is currently owned by company insiders.

Institutional Trading of iRadimed

A number of hedge funds and other institutional investors have recently made changes to their positions in IRMD. First Horizon Advisors Inc. boosted its holdings in iRadimed by 78.7% during the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock worth $27,000 after buying an additional 226 shares during the last quarter. Tower Research Capital LLC TRC grew its position in iRadimed by 191.1% in 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 in the last quarter. Spire Wealth Management bought a new stake in iRadimed during the second quarter worth about $60,000. US Bancorp DE boosted its holdings in shares of iRadimed by 132.7% in the 1st quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock valued at $75,000 after buying an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of iRadimed in the 1st quarter valued at about $78,000. 92.34% of the stock is currently 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.

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.