Irhythm Tech (NASDAQ:IRTC) Director Raymond W. Scott sold 12,749 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.30, for a total value of $577,529.70. Following the sale, the director now owns 12,749 shares of the company’s stock, valued at $577,529.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Raymond W. Scott also recently made the following trade(s):
- On Monday, August 7th, Raymond W. Scott sold 52,903 shares of Irhythm Tech stock. The shares were sold at an average price of $43.59, for a total value of $2,306,041.77.
Irhythm Tech (NASDAQ IRTC) traded down 0.81% during midday trading on Friday, hitting $48.69. The stock had a trading volume of 590,288 shares. The company’s market capitalization is $1.11 billion. Irhythm Tech has a 52 week low of $22.16 and a 52 week high of $50.51. The company’s 50-day moving average price is $49.09 and its 200 day moving average price is $44.37.
Irhythm Tech (NASDAQ:IRTC) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.02. Irhythm Tech had a negative net margin of 27.34% and a negative return on equity of 57.23%. The business had revenue of $23.85 million during the quarter, compared to the consensus estimate of $22.10 million. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, analysts expect that Irhythm Tech will post ($1.13) EPS for the current year.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered Irhythm Tech from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 price target on shares of Irhythm Tech in a research note on Tuesday, June 6th. Finally, Morgan Stanley boosted their price objective on Irhythm Tech from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Irhythm Tech currently has an average rating of “Hold” and an average price target of $37.75.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC increased its position in shares of Irhythm Tech by 69.9% during the second quarter. Lord Abbett & CO. LLC now owns 328,640 shares of the company’s stock valued at $13,964,000 after acquiring an additional 135,256 shares in the last quarter. Broadfin Capital LLC bought a new stake in shares of Irhythm Tech during the second quarter valued at approximately $2,239,000. California State Teachers Retirement System increased its position in shares of Irhythm Tech by 73.0% during the second quarter. California State Teachers Retirement System now owns 24,400 shares of the company’s stock valued at $1,037,000 after acquiring an additional 10,300 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Irhythm Tech by 84.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock valued at $476,000 after acquiring an additional 5,124 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Irhythm Tech during the second quarter valued at approximately $3,281,000. 93.25% of the stock is owned by institutional investors.
Irhythm Tech Company Profile
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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