Irhythm Tech (IRTC) Director Sells $577,529.70 in Stock
Irhythm Tech (NASDAQ:IRTC) Director Raymond W. Scott sold 12,749 shares of Irhythm Tech 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 transaction, the director now owns 12,749 shares of the company’s stock, valued at approximately $577,529.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was 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 0.11% during midday trading on Tuesday, reaching $45.55. 171,654 shares of the company’s stock traded hands. The firm’s market cap is $1.04 billion. The stock has a 50-day moving average price of $43.06 and a 200 day moving average price of $38.31. Irhythm Tech has a 12 month low of $22.16 and a 12 month high of $46.28.
Irhythm Tech (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, topping 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 analyst estimates of $22.10 million. Irhythm Tech’s revenue was up 51.6% on a year-over-year basis. Equities research analysts predict that Irhythm Tech will post ($1.13) earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Irhythm Tech by 382.2% in the second quarter. FMR LLC now owns 1,542,886 shares of the company’s stock valued at $65,557,000 after buying an additional 1,222,886 shares during the period. Capital Research Global Investors increased its position in Irhythm Tech by 103.2% in the second quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock valued at $101,941,000 after buying an additional 1,218,580 shares during the period. Alliancebernstein L.P. increased its position in Irhythm Tech by 644.3% in the second quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock valued at $37,561,000 after buying an additional 765,218 shares during the period. TimesSquare Capital Management LLC bought a new position in Irhythm Tech during the first quarter valued at approximately $27,746,000. Finally, Bank of New York Mellon Corp increased its position in Irhythm Tech by 2,702.1% in the second quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock valued at $25,794,000 after buying an additional 585,390 shares during the period. 93.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on IRTC. Zacks Investment Research cut Irhythm Tech from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Canaccord Genuity restated a “buy” rating and set a $42.00 price objective on shares of Irhythm Tech in a research report on Tuesday, June 6th. Finally, Morgan Stanley raised their price objective on shares of Irhythm Tech from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.75.
About Irhythm Tech
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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