Iradimed Corporation (NASDAQ:IRMD) Short Interest Update

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

Iradimed Price Performance

Shares of IRMD stock traded down $0.09 during trading hours on Tuesday, hitting $55.00. The company had a trading volume of 21,902 shares, compared to its average volume of 48,271. Iradimed has a fifty-two week low of $40.18 and a fifty-two week high of $57.95. The company’s fifty day moving average is $53.46 and its 200 day moving average is $48.94. The stock has a market capitalization of $697.02 million, a PE ratio of 37.67 and a beta of 0.82.

Iradimed Announces Dividend

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 was Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.09%. Iradimed’s dividend payout ratio is currently 41.10%.

Insider Buying and Selling at Iradimed

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

Institutional Investors Weigh In On Iradimed

A number of institutional investors have recently modified their holdings of IRMD. Bank of New York Mellon Corp lifted its holdings in Iradimed by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,971 shares of the medical equipment provider’s stock worth $2,547,000 after buying an additional 4,363 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Iradimed by 9.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 17,584 shares of the medical equipment provider’s stock valued at $773,000 after purchasing an additional 1,570 shares during the period. Rhumbline Advisers grew its stake in Iradimed by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 10,969 shares of the medical equipment provider’s stock worth $482,000 after purchasing an additional 1,132 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Iradimed by 1.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 49,563 shares of the medical equipment provider’s stock worth $2,178,000 after purchasing an additional 700 shares during the period. Finally, Isthmus Partners LLC raised its position in Iradimed by 1.1% in the 2nd quarter. Isthmus Partners LLC now owns 72,664 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 759 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.