Irhythm Tech (NASDAQ:IRTC) Director Raymond W. Scott sold 8,088 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $48.00, for a total value of $388,224.00. Following the completion of the sale, the director now owns 8,088 shares of the company’s stock, valued at $388,224. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.
Shares of Irhythm Tech (NASDAQ IRTC) traded up 1.36% on Monday, hitting $49.16. 278,769 shares of the stock traded hands. The firm’s market cap is $1.12 billion. The stock has a 50-day moving average price of $44.47 and a 200 day moving average price of $39.03. Irhythm Tech has a 52 week low of $22.16 and a 52 week high of $50.51.
Irhythm Tech (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. The company had revenue of $23.85 million during the quarter, compared to the consensus estimate of $22.10 million. Irhythm Tech had a negative net margin of 27.34% and a negative return on equity of 57.23%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities research analysts predict that Irhythm Tech will post ($1.13) EPS for the current fiscal year.
Several equities research analysts recently issued reports on IRTC shares. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price target on shares of Irhythm Tech in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Irhythm Tech from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, Morgan Stanley boosted their price objective on shares of Irhythm Tech from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned 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.
A number of large investors have recently modified their holdings of the stock. Nationwide Fund Advisors raised its position in Irhythm Tech by 30.2% in the 1st quarter. Nationwide Fund Advisors now owns 4,069 shares of the company’s stock worth $153,000 after purchasing an additional 945 shares during the period. Legal & General Group Plc raised its position in Irhythm Tech by 131.0% in the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock worth $143,000 after purchasing an additional 1,913 shares during the period. Bank of New York Mellon Corp raised its position in Irhythm Tech by 20.9% in the 1st quarter. Bank of New York Mellon Corp now owns 21,664 shares of the company’s stock worth $814,000 after purchasing an additional 3,743 shares during the period. EAM Investors LLC raised its position in Irhythm Tech by 19.7% in the 2nd quarter. EAM Investors LLC now owns 24,942 shares of the company’s stock worth $1,060,000 after purchasing an additional 4,106 shares during the period. Finally, American International Group Inc. purchased a new position in Irhythm Tech in the 1st quarter worth $161,000. Institutional investors own 93.25% of the company’s stock.
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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