Iradimed (NASDAQ:IRMD) Hits New 52-Week High – Here’s What Happened

Iradimed Corporation (NASDAQ:IRMD) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.00 and last traded at $57.11, with a volume of 30305 shares. The stock had previously closed at $56.71.

Iradimed Stock Performance

The stock has a market capitalization of $717.17 million, a P/E ratio of 38.76 and a beta of 0.81. The business has a 50-day moving average price of $54.19 and a 200 day moving average price of $49.52.

Iradimed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a $0.15 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.06%. Iradimed’s payout ratio is currently 41.10%.

Insider Transactions at Iradimed

In other news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total value of $135,450.00. Following the transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at $237,470.94. This trade represents a 36.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank raised its stake in Iradimed by 51.3% during the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 504 shares during the period. Gladius Capital Management LP lifted its stake in shares of Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after buying an additional 965 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Iradimed in the 3rd quarter worth $126,000. Finally, SG Americas Securities LLC bought a new stake in Iradimed during the third quarter valued at about $147,000. 92.34% of the stock is currently owned by institutional investors.

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.