IRHYTHM TECH (IRTC) Shares Sold by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lessened its stake in shares of IRHYTHM TECH (NASDAQ:IRTC) by 79.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,716 shares of the company’s stock after selling 66,532 shares during the period. Goldman Sachs Group Inc. owned about 0.07% of IRHYTHM TECH worth $710,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of IRHYTHM TECH by 131.0% during the second quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock valued at $143,000 after acquiring an additional 1,913 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of IRHYTHM TECH by 30.2% during the first quarter. Nationwide Fund Advisors now owns 4,069 shares of the company’s stock valued at $153,000 after acquiring an additional 945 shares in the last quarter. American International Group Inc. purchased a new position in IRHYTHM TECH during the first quarter valued at approximately $161,000. First Mercantile Trust Co. purchased a new position in IRHYTHM TECH during the second quarter valued at approximately $221,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in IRHYTHM TECH during the second quarter valued at approximately $262,000. 94.19% of the stock is owned by hedge funds and other institutional investors.
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In other IRHYTHM TECH news, Director Raymond W. Scott sold 12,749 shares of IRHYTHM TECH 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 transaction, the director now directly owns 12,749 shares of the company’s stock, valued at $577,529.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin M. King sold 60,000 shares of IRHYTHM TECH stock in a transaction on Monday, November 6th. The stock was sold at an average price of $51.85, for a total transaction of $3,111,000.00. Following the completion of the transaction, the insider now directly owns 103,042 shares in the company, valued at $5,342,727.70. The disclosure for this sale can be found here. Insiders sold 125,111 shares of company stock worth $6,258,065 over the last ninety days. Corporate insiders own 23.30% of the company’s stock.
Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of IRHYTHM TECH from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Zacks Investment Research lowered shares of IRHYTHM TECH from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Canaccord Genuity lifted their price objective on shares of IRHYTHM TECH from $55.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, ValuEngine raised shares of IRHYTHM TECH from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $48.80.
IRHYTHM TECH (NASDAQ IRTC) opened at $48.21 on Friday. The company has a quick ratio of 8.07, a current ratio of 8.15 and a debt-to-equity ratio of 0.36. IRHYTHM TECH has a 1-year low of $23.03 and a 1-year high of $53.87.
IRHYTHM TECH (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. IRHYTHM TECH had a negative net margin of 27.56% and a negative return on equity of 27.33%. The business had revenue of $25.04 million for the quarter, compared to analyst estimates of $24.30 million. During the same period in the previous year, the company earned ($2.80) earnings per share. The business’s revenue for the quarter was up 49.2% on a year-over-year basis. equities analysts forecast that IRHYTHM TECH will post -1.16 EPS for the current year.
IRHYTHM TECH 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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