Iradimed Corporation (NASDAQ:IRMD) Short Interest Update

Iradimed Corporation (NASDAQ:IRMD) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 85,900 shares, a growth of 6.3% from the October 31st total of 80,800 shares. Based on an average daily trading volume, of 42,300 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.1% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 filing with the SEC, which is available at this link. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

A number of institutional investors and hedge funds have recently bought and sold shares of IRMD. 1620 Investment Advisors Inc. bought a new stake in Iradimed during the second quarter valued at about $25,000. Isthmus Partners LLC grew its stake in shares of 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 acquiring an additional 759 shares in the last quarter. Comerica Bank boosted its holdings in shares of Iradimed by 2,151.6% in the 1st quarter. Comerica Bank now owns 1,441 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 1,377 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Iradimed by 51.3% during the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 504 shares during the period. Finally, Gladius Capital Management LP raised its holdings in Iradimed by 126.6% during the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 965 shares during the last quarter. 92.34% of the stock is owned by institutional investors.

Iradimed Stock Down 0.2 %

Iradimed stock opened at $53.84 on Tuesday. The company’s 50 day moving average price is $51.69 and its two-hundred day moving average price is $47.27. Iradimed has a 52 week low of $40.18 and a 52 week high of $57.95. The stock has a market cap of $682.09 million, a P/E ratio of 36.87 and a beta of 0.82.

Iradimed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 1.11%. Iradimed’s dividend payout ratio (DPR) is presently 41.10%.

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.