Iradimed Corp (NASDAQ:IRMD) Short Interest Update

Iradimed Corp (NASDAQ:IRMD) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 550,200 shares, a decline of 5.1% from the May 15th total of 579,800 shares. Approximately 11.1% of the shares of the company are short sold. Based on an average daily volume of 56,200 shares, the days-to-cover ratio is presently 9.8 days.

In related news, VP Brent Johnson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $22.53, for a total transaction of $45,060.00. Following the completion of the transaction, the vice president now owns 4,368 shares in the company, valued at approximately $98,411.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 28,000 shares of company stock valued at $587,710 in the last 90 days. Insiders own 56.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Iradimed by 53.9% in the 4th quarter. Barclays PLC now owns 2,059 shares of the medical equipment provider’s stock valued at $50,000 after purchasing an additional 721 shares during the period. GSA Capital Partners LLP grew its position in Iradimed by 14.6% during the 4th quarter. GSA Capital Partners LLP now owns 11,796 shares of the medical equipment provider’s stock worth $289,000 after acquiring an additional 1,500 shares during the last quarter. Geode Capital Management LLC boosted its position in Iradimed by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 45,822 shares of the medical equipment provider’s stock valued at $1,120,000 after buying an additional 1,690 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Iradimed by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 33,252 shares of the medical equipment provider’s stock valued at $813,000 after buying an additional 2,503 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Iradimed in the 1st quarter valued at $76,000. Institutional investors own 23.53% of the company’s stock.

NASDAQ IRMD traded down $0.11 on Friday, reaching $18.28. The stock had a trading volume of 77,662 shares, compared to its average volume of 91,719. Iradimed has a 1 year low of $16.68 and a 1 year high of $38.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.48 and a quick ratio of 8.63. The company has a market capitalization of $203.95 million, a P/E ratio of 42.51 and a beta of 1.64. The firm has a 50 day simple moving average of $19.92.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Tuesday, April 30th. The medical equipment provider reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $8.44 million during the quarter, compared to analysts’ expectations of $8.38 million. Iradimed had a return on equity of 13.98% and a net margin of 23.00%. On average, research analysts forecast that Iradimed will post 0.64 EPS for the current year.

A number of equities research analysts have recently issued reports on the company. BidaskClub raised Zogenix from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.50.

About Iradimed

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.

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