IRHYTHM TECH (IRTC) traded up 1.36% during midday trading on Tuesday, reaching $43.84. The company had a trading volume of 245,276 shares. IRHYTHM TECH has a 12-month low of $22.16 and a 12-month high of $45.42. The stock’s 50 day moving average is $41.59 and its 200 day moving average is $36.87. The firm’s market capitalization is $980.35 million.
IRHYTHM TECH (NASDAQ:IRTC) CFO Matthew C. Garrett sold 25,086 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $42.06, for a total value of $1,055,117.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. The firm had revenue of $23.85 million for the quarter, compared to analyst estimates of $22.10 million. IRHYTHM TECH had a negative return on equity of 98.97% and a negative net margin of 27.34%. The firm’s revenue was up 51.6% on a year-over-year basis. Equities research analysts expect that IRHYTHM TECH will post ($1.14) earnings per share for the current year.
Several hedge funds have recently modified their holdings of IRTC. TimesSquare Capital Management LLC bought a new stake in shares of IRHYTHM TECH during the first quarter worth about $27,746,000. Bank of New York Mellon Corp boosted its stake in shares of IRHYTHM TECH by 2,702.1% in the second quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock worth $25,794,000 after buying an additional 585,390 shares in the last quarter. Columbia Wanger Asset Management LLC boosted its stake in shares of IRHYTHM TECH by 6.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 589,147 shares of the company’s stock worth $22,152,000 after buying an additional 35,300 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of IRHYTHM TECH during the second quarter worth about $21,300,000. Finally, FMR LLC bought a new stake in shares of IRHYTHM TECH during the fourth quarter worth about $13,200,000. Hedge funds and other institutional investors own 59.19% of the company’s stock.
A number of research firms recently weighed in on IRTC. Zacks Investment Research cut IRHYTHM TECH from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Canaccord Genuity restated a “buy” rating and issued a $42.00 price target on shares of IRHYTHM TECH in a research note on Tuesday, June 6th. Finally, Morgan Stanley increased their price target on IRHYTHM TECH from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $37.75.
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.