Iradimed Corporation (NASDAQ:IRMD) Short Interest Up 8.9% in September

Iradimed Corporation (NASDAQ:IRMD) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 74,400 shares, a growth of 8.9% from the September 15th total of 68,300 shares. Based on an average daily trading volume, of 49,800 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their price target on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 2nd.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in shares of Iradimed in the 2nd quarter worth about $25,000. Isthmus Partners LLC boosted its stake in Iradimed by 1.1% in the second quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 759 shares in the last quarter. Comerica Bank grew its position in Iradimed by 2,151.6% during the first quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 1,377 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Iradimed during the third quarter worth approximately $147,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Iradimed in the 1st quarter worth approximately $150,000. Institutional investors own 92.34% of the company’s stock.

Iradimed Stock Performance

Shares of IRMD stock opened at $51.55 on Thursday. The company has a market capitalization of $652.83 million, a PE ratio of 36.56 and a beta of 0.79. Iradimed has a 52-week low of $37.51 and a 52-week high of $51.86. The business’s fifty day moving average is $47.41 and its 200 day moving average is $44.79.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Iradimed had a return on equity of 24.71% and a net margin of 26.83%. The firm had revenue of $17.93 million during the quarter, compared to the consensus estimate of $17.70 million. During the same quarter last year, the company posted $0.33 EPS. On average, sell-side analysts forecast that Iradimed will post 1.41 EPS for the current fiscal year.

Iradimed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, August 20th. Iradimed’s dividend payout ratio is currently 42.55%.

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.