Irhythm Tech (IRTC) Director Raymond W. Scott Sells 4,661 Shares
Irhythm Tech (NASDAQ:IRTC) Director Raymond W. Scott sold 4,661 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $48.02, for a total value of $223,821.22. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at approximately $223,821.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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 0.38% during midday trading on Thursday, hitting $47.76. The company had a trading volume of 166,357 shares. The stock’s market cap is $1.09 billion. The stock’s 50-day moving average price is $44.29 and its 200-day moving average price is $38.96. Irhythm Tech has a 52-week low of $22.16 and a 52-week high of $48.82.
Irhythm Tech (NASDAQ:IRTC) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. Irhythm Tech had a negative return on equity of 57.23% and a negative net margin of 27.34%. The firm had revenue of $23.85 million for the quarter, compared to analyst estimates of $22.10 million. The business’s revenue was up 51.6% on a year-over-year basis. On average, equities research analysts expect that Irhythm Tech will post ($1.13) EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors lifted its stake in Irhythm Tech by 30.2% in the 1st quarter. Nationwide Fund Advisors now owns 4,069 shares of the company’s stock valued at $153,000 after buying an additional 945 shares in the last quarter. Legal & General Group Plc lifted its stake in Irhythm Tech by 131.0% in the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock valued at $143,000 after buying an additional 1,913 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 valued at $814,000 after buying an additional 3,743 shares in the last quarter. EAM Investors LLC lifted its stake in Irhythm Tech by 19.7% in the 2nd quarter. EAM Investors LLC now owns 24,942 shares of the company’s stock valued at $1,060,000 after buying an additional 4,106 shares in the last quarter. Finally, American International Group Inc. purchased a new stake in Irhythm Tech in the 1st quarter valued at approximately $161,000. 93.25% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Irhythm Tech from a “hold” rating to a “sell” rating in a research report on Wednesday. Canaccord Genuity restated a “buy” rating and issued a $42.00 target price on shares of Irhythm Tech in a research report on Tuesday, June 6th. Finally, Morgan Stanley raised their target price on 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 given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.75.
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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