IRHYTHM TECH (IRTC) Shares Bought by Gilder Gagnon Howe & Co. LLC
Gilder Gagnon Howe & Co. LLC increased its stake in shares of IRHYTHM TECH (NASDAQ:IRTC) by 18.8% during the second quarter, Holdings Channel reports. The fund owned 115,592 shares of the company’s stock after buying an additional 18,287 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in IRHYTHM TECH were worth $4,912,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its position in IRHYTHM TECH by 30.2% in the first quarter. Nationwide Fund Advisors now owns 4,069 shares of the company’s stock valued at $153,000 after buying an additional 945 shares during the last quarter. American International Group Inc. bought a new position in IRHYTHM TECH during the first quarter valued at $161,000. Quantitative Systematic Strategies LLC bought a new position in IRHYTHM TECH during the second quarter valued at $262,000. Teachers Advisors LLC bought a new position in IRHYTHM TECH during the fourth quarter valued at $373,000. Finally, Columbus Circle Investors bought a new position in IRHYTHM TECH during the first quarter valued at $714,000. 59.19% of the stock is owned by institutional investors.
Shares of IRHYTHM TECH (NASDAQ IRTC) opened at 43.82 on Thursday. The company’s market cap is $979.90 million. The company’s 50-day moving average is $41.96 and its 200-day moving average is $37.23. IRHYTHM TECH has a one year low of $22.16 and a one year high of $45.98.
IRHYTHM TECH (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.29) earnings per share (EPS) 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 firm had revenue of $23.85 million during the quarter, compared to analyst estimates of $22.10 million. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities analysts predict that IRHYTHM TECH will post ($1.14) EPS for the current year.
Several equities analysts recently weighed in on IRTC shares. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 target price 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 Monday, July 31st. Finally, Morgan Stanley increased 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $37.75.
In other IRHYTHM TECH news, insider Kevin M. King sold 110,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.08, for a total value of $4,628,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond W. Scott sold 52,903 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.59, for a total transaction of $2,306,041.77. The disclosure for this sale can be found here. Insiders sold 1,613,613 shares of company stock worth $59,659,115 in the last ninety days. 23.30% of the stock is currently owned by corporate insiders.
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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