Iradimed (NASDAQ:IRMD) Reaches New 52-Week High – Still a Buy?

Iradimed Corporation (NASDAQ:IRMD)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $58.00 and last traded at $57.11, with a volume of 30305 shares changing hands. The stock had previously closed at $56.71.

Iradimed Stock Up 2.6 %

The business has a fifty day moving average price of $53.91 and a 200-day moving average price of $49.40. The company has a market cap of $737.70 million, a P/E ratio of 39.87 and a beta of 0.81.

Iradimed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, November 15th. Iradimed’s payout ratio is 41.10%.

Insider Activity

In other news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the sale, the chief financial officer now directly owns 4,383 shares in the company, valued at approximately $237,470.94. The trade was a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iradimed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Iradimed by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after purchasing an additional 12,051 shares during the period. Principal Financial Group Inc. bought a new position in Iradimed in the 3rd quarter valued at about $246,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Iradimed in the 3rd quarter valued at approximately $126,000. Barclays PLC lifted its holdings in shares of Iradimed by 113.9% during the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after acquiring an additional 12,657 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Iradimed by 9.8% during the 3rd quarter. Stifel Financial Corp now owns 24,428 shares of the medical equipment provider’s stock worth $1,229,000 after acquiring an additional 2,174 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

About Iradimed

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.