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.

Shares of iRadimed Corporation (NASDAQ:IRMD - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock 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 Price Performance

The company's 50-day moving average price is $66.57 and its 200-day moving average price is $58.72. The company has a market cap of $908.97 million, a P/E ratio of 44.11 and a beta of 1.02.

iRadimed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were given 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 yield of 1.0%. iRadimed's dividend payout ratio (DPR) 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 completion of the transaction, the director owned 19,898 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 36.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its position in 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. 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 position in iRadimed in the second quarter valued at $60,000. US Bancorp DE grew its position in iRadimed by 132.7% in 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 in the last quarter. Finally, Quantbot Technologies LP bought a new position in iRadimed in the first quarter valued at $78,000. Institutional investors own 92.34% of the company's stock.

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.