iRadimed (NASDAQ:IRMD) Stock Passes Above 50-Day Moving Average - Time to Sell?

iRadimed Corporation (NASDAQ:IRMD - Get Free Report)'s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $56.56 and traded as high as $62.07. iRadimed shares last traded at $59.02, with a volume of 57,917 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded iRadimed from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

iRadimed Stock Down 3.2%

The stock has a market capitalization of $732.29 million, a PE ratio of 37.14 and a beta of 0.91. The company has a 50-day moving average of $57.04 and a 200 day moving average of $55.68.

iRadimed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, May 20th. iRadimed's payout ratio is currently 43.87%.

Hedge Funds Weigh In On iRadimed

Hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 226 shares during the period. US Bancorp DE grew its holdings in shares of iRadimed by 476.6% during the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 510 shares during the period. Quantbot Technologies LP purchased a new position in shares of iRadimed during the 1st quarter worth $78,000. Huntington National Bank lifted its stake in iRadimed by 34.0% during the 4th quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock worth $110,000 after acquiring an additional 506 shares in the last quarter. Finally, Comerica Bank lifted its stake in iRadimed by 21.4% during the 1st quarter. Comerica Bank now owns 2,288 shares of the medical equipment provider's stock worth $120,000 after acquiring an additional 404 shares in the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

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.