iRadimed Corporation (NASDAQ:IRMD) Shareholders to Get $0.20 Quarterly Dividend

iRadimed Corporation (NASDAQ:IRMD) declared a quarterly dividend on Friday, October 30th. Shareholders of record on Friday, November 13th will be given a dividend of $0.20 per share by the medical equipment provider on Friday, November 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th.

iRadimed has a payout ratio of 40.2% meaning its dividend is sufficiently covered by earnings.

iRadimed Trading Down 0.3%

iRadimed stock opened at $86.72 on Wednesday. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 46.37 and a beta of 0.91. The firm’s fifty day moving average price is $85.33 and its two-hundred day moving average price is $92.08. iRadimed has a 1-year low of $76.35 and a 1-year high of $107.90.

iRadimed (NASDAQ:IRMD) last posted its earnings results on Friday, October 30th. The medical equipment provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. iRadimed had a net margin of 26.85% and a return on equity of 23.90%. The company had revenue of $24.20 million during the quarter, compared to the consensus estimate of $23.47 million. On average, research analysts forecast that iRadimed will post 1.92 EPS for the current year.

Analysts Set New Price Targets

IRMD has been the topic of several recent analyst reports. Wall Street Zen cut iRadimed from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Needham & Company LLC assumed coverage on shares of iRadimed in a research note on Tuesday, September 22nd. They issued a “hold” rating for the company. Finally, Weiss Ratings upgraded shares of iRadimed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $120.00.

About iRadimed

iRadimed Corporation develops, manufactures and markets medical devices designed for use in magnetic resonance imaging (MRI) environments. Its products include MRI-compatible patient monitoring systems and intravenous infusion pumps, along with related accessories. The company’s monitoring systems help clinicians track patients during MRI procedures, while its infusion pumps deliver fluids and medications in the MRI suite. iRadimed’s equipment is designed to operate in the presence of MRI magnets, where conventional medical devices may not be suitable.