Iradimed Corporation (NASDAQ:IRMD) Declares Quarterly Dividend of $0.15

Iradimed Corporation (NASDAQ:IRMD) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Monday, May 20th will be paid a dividend of 0.15 per share by the medical equipment provider on Thursday, May 30th. This represents a $0.60 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, May 17th.

Iradimed has a dividend payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Iradimed to earn $1.72 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 34.9%.

Iradimed Trading Up 1.9 %

Shares of IRMD stock opened at $44.70 on Friday. The company has a market cap of $565.90 million, a PE ratio of 31.70 and a beta of 0.86. Iradimed has a 12-month low of $36.12 and a 12-month high of $51.04. The business’s fifty day simple moving average is $42.62 and its 200-day simple moving average is $43.14.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $17.45 million for the quarter. Iradimed had a net margin of 26.48% and a return on equity of 25.01%. On average, equities analysts forecast that Iradimed will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on IRMD. Singular Research reiterated a “buy” rating on shares of Iradimed in a research note on Monday, April 1st. Roth Capital reiterated a “buy” rating on shares of Iradimed in a research note on Monday, April 22nd. Finally, Roth Mkm reissued a “buy” rating and issued a $65.00 target price on shares of Iradimed in a research report on Monday, April 22nd.

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.