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

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

Iradimed has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Iradimed stock traded up $0.85 during midday trading on Friday, reaching $44.70. The company had a trading volume of 62,939 shares, compared to its average volume of 52,340. Iradimed has a 12-month low of $36.12 and a 12-month high of $51.04. The firm’s fifty day simple moving average is $42.58 and its 200-day simple moving average is $43.10. The company has a market capitalization of $565.90 million, a P/E ratio of 32.85 and a beta of 0.86.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a return on equity of 24.62% and a net margin of 26.22%. The firm had revenue of $17.45 million during the quarter. On average, analysts expect that Iradimed will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Iradimed Company Profile

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.