Irhythm Tech (NASDAQ:IRTC) Director Vijay K. Lathi sold 34,613 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $49.51, for a total transaction of $1,713,689.63. Following the sale, the director now directly owns 1,405 shares of the company’s stock, valued at $69,561.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Irhythm Tech (NASDAQ:IRTC) traded down 0.81% during midday trading on Friday, reaching $48.69. 566,410 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $49.19 and a 200-day moving average of $43.37. The stock’s market capitalization is $1.11 billion. Irhythm Tech has a 12-month low of $22.16 and a 12-month high of $50.51.

Irhythm Tech (NASDAQ:IRTC) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02. The business had revenue of $23.85 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 51.6% compared to the same quarter last year. Analysts anticipate that Irhythm Tech will post ($1.13) EPS for the current fiscal year.

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Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Irhythm Tech from a “hold” rating to a “sell” rating in a research report on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $42.00 target price on shares of Irhythm Tech in a research report on Tuesday, June 6th. Finally, Morgan Stanley boosted their target price 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 investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $37.75.

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in Irhythm Tech by 131.0% in the second quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock worth $143,000 after buying an additional 1,913 shares during the last quarter. Nationwide Fund Advisors raised its holdings in Irhythm Tech by 30.2% in the first quarter. Nationwide Fund Advisors now owns 4,069 shares of the company’s stock worth $153,000 after buying an additional 945 shares during the last quarter. American International Group Inc. purchased a new position in Irhythm Tech in the first quarter worth about $161,000. First Mercantile Trust Co. purchased a new position in Irhythm Tech in the second quarter worth about $221,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Irhythm Tech in the second quarter worth about $262,000. 93.25% of the stock is owned by institutional investors and hedge funds.

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.

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

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