Irhythm Technologies Inc (NASDAQ:IRTC) EVP Derrick Sung sold 10,000 shares of the stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $83.10, for a total value of $831,000.00. Following the completion of the transaction, the executive vice president now owns 29,458 shares in the company, valued at approximately $2,447,959.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Derrick Sung also recently made the following trade(s):
- On Thursday, August 2nd, Derrick Sung sold 10,000 shares of Irhythm Technologies stock. The shares were sold at an average price of $82.01, for a total value of $820,100.00.
NASDAQ:IRTC opened at $86.64 on Friday. The company has a market cap of $2.27 billion, a P/E ratio of -64.76 and a beta of 1.35. The company has a current ratio of 5.58, a quick ratio of 5.47 and a debt-to-equity ratio of 0.48. Irhythm Technologies Inc has a 52-week low of $46.95 and a 52-week high of $98.37.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, August 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). The firm had revenue of $35.50 million for the quarter, compared to analysts’ expectations of $32.52 million. Irhythm Technologies had a negative return on equity of 53.59% and a negative net margin of 34.38%. The company’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) EPS. On average, research analysts expect that Irhythm Technologies Inc will post -1.91 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in IRTC. SG Americas Securities LLC purchased a new position in Irhythm Technologies during the 1st quarter worth approximately $112,000. Swiss National Bank grew its stake in Irhythm Technologies by 6.8% during the 1st quarter. Swiss National Bank now owns 15,800 shares of the company’s stock worth $995,000 after buying an additional 1,000 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Irhythm Technologies by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 86,928 shares of the company’s stock worth $5,473,000 after buying an additional 4,720 shares during the last quarter. Northern Trust Corp grew its stake in Irhythm Technologies by 1.2% during the 1st quarter. Northern Trust Corp now owns 190,626 shares of the company’s stock worth $12,000,000 after buying an additional 2,195 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Irhythm Technologies by 1.1% during the 1st quarter. BlackRock Inc. now owns 1,621,618 shares of the company’s stock worth $102,081,000 after buying an additional 17,368 shares during the last quarter.
A number of research analysts have recently commented on IRTC shares. Dougherty & Co downgraded Irhythm Technologies from a “neutral” rating to a “sell” rating in a report on Monday, July 16th. BidaskClub upgraded Irhythm Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 24th. BMO Capital Markets increased their price objective on Irhythm Technologies to $93.00 and gave the company an “outperform” rating in a report on Tuesday, July 10th. Canaccord Genuity increased their price objective on Irhythm Technologies from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, Morgan Stanley increased their price objective on Irhythm Technologies from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $94.14.
Irhythm Technologies Company Profile
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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