Raymond W. Scott Sells 12,749 Shares of IRHYTHM TECH (IRTC) Stock
IRHYTHM TECH (NASDAQ:IRTC) Director Raymond W. Scott sold 12,749 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $45.30, for a total value of $577,529.70. Following the completion of the sale, the director now owns 12,749 shares of the company’s stock, valued at $577,529.70. The sale was disclosed in a filing with the SEC, which can be accessed 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) opened at 46.01 on Thursday. The stock’s 50 day moving average price is $43.06 and its 200-day moving average price is $38.31. The stock’s market capitalization is $1.05 billion. IRHYTHM TECH has a 12-month low of $22.16 and a 12-month high of $46.28.
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, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $23.85 million during the quarter, compared to analyst estimates of $22.10 million. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. Analysts expect that IRHYTHM TECH will post ($1.13) earnings per share for the current year.
A number of research firms have recently weighed in on IRTC. Canaccord Genuity reiterated a “buy” rating and set a $42.00 price target on shares of IRHYTHM TECH in a report on Friday, May 5th. Morgan Stanley increased their price target on IRHYTHM TECH from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, June 6th. Finally, Zacks Investment Research cut IRHYTHM TECH from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.75.
Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of IRHYTHM TECH by 131.0% in the second 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. Nationwide Fund Advisors raised its stake in shares of 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 in the last quarter. American International Group Inc. purchased a new stake in shares of IRHYTHM TECH during the first quarter valued at about $161,000. First Mercantile Trust Co. purchased a new stake in shares of IRHYTHM TECH during the second quarter valued at about $221,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of IRHYTHM TECH during the second quarter valued at about $262,000. Institutional investors and hedge funds own 93.25% of the company’s stock.
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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