Iradimed Corporation (IRMD) To Go Ex-Dividend on February 24th

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Investors of record on Monday, February 24th will be given a dividend of 0.17 per share by the medical equipment provider on Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from Iradimed’s previous quarterly dividend of $0.15.

Iradimed has a dividend payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Iradimed to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 37.7%.

Iradimed Trading Down 0.3 %

Shares of NASDAQ:IRMD opened at $55.23 on Friday. The stock’s fifty day simple moving average is $57.20 and its two-hundred day simple moving average is $52.14. Iradimed has a 1-year low of $40.18 and a 1-year high of $63.29. The stock has a market cap of $699.76 million, a PE ratio of 37.83 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.12% and a return on equity of 23.99%. The company had revenue of $19.39 million for the quarter, compared to the consensus estimate of $19.09 million. On average, sell-side analysts forecast that Iradimed will post 1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com cut Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Roth Mkm reiterated a “buy” rating and set a $72.00 target price (up from $60.00) on shares of Iradimed in a research note on Friday.

Insider Transactions at Iradimed

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

About Iradimed

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.