Vijay K. Lathi Sells 225,000 Shares of Irhythm Technologies Inc (IRTC) Stock

Irhythm Technologies Inc (NASDAQ:IRTC) Director Vijay K. Lathi sold 225,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $52.10, for a total transaction of $11,722,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Irhythm Technologies Inc (NASDAQ IRTC) opened at $52.31 on Wednesday. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38. Irhythm Technologies Inc has a 52 week low of $24.25 and a 52 week high of $57.90.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, November 1st. The company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. The firm had revenue of $25.04 million for the quarter, compared to analysts’ expectations of $24.30 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. Irhythm Technologies’s quarterly revenue was up 49.2% on a year-over-year basis. During the same quarter last year, the company earned ($2.80) EPS. research analysts expect that Irhythm Technologies Inc will post -1.17 earnings per share for the current year.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Irhythm Technologies in a report on Monday. They issued an “outperform” rating and a $79.00 price objective on the stock. Dougherty & Co assumed coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They issued a “neutral” rating on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Irhythm Technologies in a report on Tuesday, November 14th. Morgan Stanley increased their price objective on shares of Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Finally, ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $65.25.

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors increased its stake in Irhythm Technologies by 103.2% during the 2nd quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock valued at $101,941,000 after buying an additional 1,218,580 shares during the period. FMR LLC increased its stake in Irhythm Technologies by 382.2% during the 2nd quarter. FMR LLC now owns 1,542,886 shares of the company’s stock valued at $65,557,000 after buying an additional 1,222,886 shares during the period. Franklin Resources Inc. increased its stake in Irhythm Technologies by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,109,613 shares of the company’s stock valued at $47,147,000 after buying an additional 53,260 shares during the period. TimesSquare Capital Management LLC grew its stake in shares of Irhythm Technologies by 43.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,060,230 shares of the company’s stock worth $45,049,000 after purchasing an additional 322,300 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Irhythm Technologies by 644.3% in the 2nd quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock worth $37,561,000 after purchasing an additional 765,218 shares during the last quarter. 97.80% of the stock is currently owned by hedge funds and other institutional investors.

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About Irhythm Technologies

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.

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

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