iRadimed (NASDAQ:IRMD) Stock Price Crosses Above 50-Day Moving Average - Should You Sell?

iRadimed Corporation (NASDAQ:IRMD - Get Free Report) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $85.29 and traded as high as $86.17. iRadimed shares last traded at $85.35, with a volume of 115,215 shares.

Wall Street Analyst Weigh In

IRMD has been the topic of several analyst reports. Needham & Company LLC assumed coverage on shares of iRadimed in a research report on Tuesday, September 22nd. They set a "hold" rating on the stock. Weiss Ratings upgraded shares of iRadimed from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 16th. Finally, Wall Street Zen lowered iRadimed from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, iRadimed currently has a consensus rating of "Buy" and an average target price of $120.00.

iRadimed Stock Performance

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 45.64 and a beta of 0.91. The business's 50 day moving average is $85.29 and its 200-day moving average is $91.86.

iRadimed (NASDAQ:IRMD - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The medical equipment provider reported $0.55 earnings per share for the quarter, hitting analysts' consensus estimates of $0.55. The company had revenue of $24.20 million during the quarter, compared to analysts' expectations of $23.47 million. iRadimed had a net margin of 26.85% and a return on equity of 23.90%. Sell-side analysts anticipate that iRadimed Corporation will post 1.92 EPS for the current fiscal year.

iRadimed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. iRadimed's dividend payout ratio (DPR) is currently 42.78%.

Insider Transactions at iRadimed

In other iRadimed news, Director Monty K. Allen sold 1,419 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $86.41, for a total transaction of $122,615.79. Following the completion of the sale, the director directly owned 19,581 shares in the company, valued at approximately $1,691,994.21. The trade was a 6.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 34.60% of the company's stock.

Institutional Investors Weigh In On iRadimed

A number of large investors have recently modified their holdings of IRMD. Legal & General Group Plc acquired a new stake in shares of iRadimed in the second quarter valued at approximately $639,000. Hsbc Holdings PLC purchased a new position in iRadimed during the second quarter worth approximately $1,130,000. Bank of America Corp DE acquired a new position in iRadimed during the second quarter worth $1,834,000. Rice Hall James & Associates LLC acquired a new position in iRadimed during the second quarter worth $2,909,000. Finally, Globeflex Capital L P acquired a new position in iRadimed during the second quarter worth $1,486,000. Hedge funds and other institutional investors own 92.34% of the company's stock.

About iRadimed

iRadimed Corporation develops, manufactures and markets medical devices designed for use in magnetic resonance imaging (MRI) environments. Its products include MRI-compatible patient monitoring systems and intravenous infusion pumps, along with related accessories. The company's monitoring systems help clinicians track patients during MRI procedures, while its infusion pumps deliver fluids and medications in the MRI suite. iRadimed's equipment is designed to operate in the presence of MRI magnets, where conventional medical devices may not be suitable.

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