Matthew C. Garrett Sells 42,910 Shares of Irhythm Technologies Inc (IRTC) Stock

Irhythm Technologies Inc (NASDAQ:IRTC) CFO Matthew C. Garrett sold 42,910 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $59.17, for a total value of $2,538,984.70. Following the transaction, the chief financial officer now directly owns 36,085 shares in the company, valued at $2,135,149.45. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of Irhythm Technologies Inc (NASDAQ IRTC) opened at $60.31 on Wednesday. The firm has a market capitalization of $1,390.00 and a P/E ratio of -50.68. Irhythm Technologies Inc has a 1 year low of $28.70 and a 1 year high of $60.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 7.65 and a quick ratio of 7.57.

Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.29) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. The company had revenue of $25.04 million for the quarter, compared to analyst estimates of $24.30 million. During the same period in the previous year, the company posted ($2.80) earnings per share. The firm’s revenue was up 49.2% on a year-over-year basis. equities research analysts anticipate that Irhythm Technologies Inc will post -1.17 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its holdings in Irhythm Technologies by 103.2% in the second quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock worth $101,941,000 after acquiring an additional 1,218,580 shares in the last quarter. FMR LLC boosted its holdings in Irhythm Technologies by 382.2% in the second quarter. FMR LLC now owns 1,542,886 shares of the company’s stock worth $65,557,000 after acquiring an additional 1,222,886 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Irhythm Technologies by 5.0% in the second quarter. Franklin Resources Inc. now owns 1,109,613 shares of the company’s stock worth $47,147,000 after acquiring an additional 53,260 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in Irhythm Technologies by 43.7% in the second quarter. TimesSquare Capital Management LLC now owns 1,060,230 shares of the company’s stock worth $45,049,000 after acquiring an additional 322,300 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Irhythm Technologies by 644.3% in the second quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock worth $37,561,000 after acquiring an additional 765,218 shares in the last quarter. 97.80% of the stock is currently owned by institutional investors and hedge funds.

IRTC has been the topic of a number of research reports. Royal Bank of Canada initiated coverage on Irhythm Technologies in a report on Monday, December 4th. They set an “outperform” rating and a $79.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $59.00 price target on shares of Irhythm Technologies in a research note on Tuesday, November 14th. BidaskClub cut Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Morgan Stanley lifted their price target on Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research cut Irhythm Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Irhythm Technologies currently has an average rating of “Hold” and a consensus price target of $65.25.

WARNING: This story was published by Markets Daily and is owned by of Markets Daily. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.themarketsdaily.com/2018/01/10/matthew-c-garrett-sells-42910-shares-of-irhythm-technologies-inc-irtc-stock.html.

Irhythm Technologies 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.

Insider Buying and Selling by Quarter for Irhythm Technologies (NASDAQ:IRTC)

Receive News & Ratings for Irhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Irhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply