Irhythm Technologies Inc (IRTC) EVP Sells $168,000.00 in Stock

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Irhythm Technologies Inc (NASDAQ:IRTC) EVP Derrick Sung sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $84.00, for a total transaction of $168,000.00. Following the sale, the executive vice president now directly owns 27,258 shares in the company, valued at $2,289,672. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Derrick Sung also recently made the following trade(s):

  • On Monday, January 28th, Derrick Sung sold 9,068 shares of Irhythm Technologies stock. The stock was sold at an average price of $84.04, for a total transaction of $762,074.72.

IRTC traded down $0.75 during trading on Thursday, hitting $85.00. 318,392 shares of the company’s stock were exchanged, compared to its average volume of 307,876. The company has a current ratio of 4.79, a quick ratio of 4.69 and a debt-to-equity ratio of 0.51. Irhythm Technologies Inc has a fifty-two week low of $55.18 and a fifty-two week high of $98.37. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -65.38 and a beta of 1.63.

Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Tuesday, October 30th. The company reported ($0.43) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. Irhythm Technologies had a negative net margin of 33.79% and a negative return on equity of 62.85%. The firm had revenue of $38.10 million for the quarter, compared to the consensus estimate of $35.87 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. The business’s revenue was up 52.2% on a year-over-year basis. As a group, equities analysts forecast that Irhythm Technologies Inc will post -1.87 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new stake in shares of Irhythm Technologies in the 4th quarter worth $55,000. Swiss National Bank grew its stake in shares of Irhythm Technologies by 3.0% in the 3rd quarter. Swiss National Bank now owns 30,900 shares of the company’s stock worth $2,925,000 after acquiring an additional 900 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Irhythm Technologies by 574.7% in the 4th quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock worth $78,000 after acquiring an additional 954 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Irhythm Technologies by 47.1% in the 2nd quarter. Legal & General Group Plc now owns 3,718 shares of the company’s stock worth $302,000 after acquiring an additional 1,191 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Irhythm Technologies in the 2nd quarter worth $101,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

A number of research firms have weighed in on IRTC. Zacks Investment Research raised shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Saturday, October 27th. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Canaccord Genuity boosted their price target on shares of Irhythm Technologies from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 11th. Finally, Morgan Stanley boosted their price target on shares of Irhythm Technologies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, October 11th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.88.

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

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