Iradimed Corporation (NASDAQ:IRMD) Sees Significant Growth in Short Interest

Iradimed Corporation (NASDAQ:IRMD) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 105,000 shares, an increase of 22.0% from the November 30th total of 86,100 shares. Based on an average trading volume of 39,100 shares, the short-interest ratio is currently 2.7 days. Approximately 1.3% of the company’s stock are sold short.

Iradimed Trading Up 0.4 %

Shares of NASDAQ:IRMD traded up $0.22 during midday trading on Tuesday, reaching $55.31. The company had a trading volume of 14,716 shares, compared to its average volume of 48,239. The stock has a market cap of $700.78 million, a P/E ratio of 37.88 and a beta of 0.82. Iradimed has a 52-week low of $40.18 and a 52-week high of $57.95. The company’s 50 day moving average price is $53.38 and its 200 day moving average price is $48.86.

Iradimed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.08%. Iradimed’s dividend payout ratio is presently 41.10%.

Insider Transactions at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the transaction, the chief financial officer now directly owns 4,383 shares of the company’s stock, valued at $237,470.94. This trade represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iradimed

Several institutional investors have recently added to or reduced their stakes in IRMD. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iradimed by 189.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock worth $3,351,000 after acquiring an additional 43,635 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Iradimed in the third quarter worth about $1,239,000. Allspring Global Investments Holdings LLC boosted its holdings in Iradimed by 14.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,122 shares of the medical equipment provider’s stock valued at $1,012,000 after purchasing an additional 2,538 shares during the period. Albert D Mason Inc. purchased a new position in Iradimed during the third quarter worth about $737,000. Finally, Barclays PLC raised its stake in Iradimed by 113.9% in the third quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock valued at $1,196,000 after purchasing an additional 12,657 shares in the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

Iradimed Company Profile

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.