Schwab Charles Investment Management Inc. boosted its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 90.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,586 shares of the company’s stock after buying an additional 36,315 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.34% of Irhythm Technologies worth $3,974,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in IRTC. Russell Investments Group Ltd. acquired a new stake in Irhythm Technologies in the 2nd quarter valued at $876,000. Rhumbline Advisers boosted its stake in Irhythm Technologies by 159.6% in the 2nd quarter. Rhumbline Advisers now owns 15,749 shares of the company’s stock valued at $669,000 after buying an additional 9,683 shares in the last quarter. Legal & General Group Plc boosted its stake in Irhythm Technologies by 131.0% in the 2nd 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. Neuberger Berman Group LLC acquired a new stake in Irhythm Technologies in the 2nd quarter valued at $1,955,000. Finally, Swiss National Bank acquired a new stake in Irhythm Technologies in the 2nd quarter valued at $629,000. 97.80% of the stock is currently owned by institutional investors and hedge funds.
Irhythm Technologies Inc (IRTC) opened at $62.62 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 7.65 and a quick ratio of 7.57. Irhythm Technologies Inc has a 52-week low of $28.70 and a 52-week high of $62.95. The stock has a market capitalization of $1,390.00 and a price-to-earnings ratio of -52.62.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. The firm had revenue of $25.04 million during the quarter, compared to the consensus estimate of $24.30 million. During the same quarter in the previous year, the company posted ($2.80) EPS. The business’s revenue for the quarter was up 49.2% compared to the same quarter last year. equities research analysts expect that Irhythm Technologies Inc will post -1.17 earnings per share for the current year.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 1,193 shares of Irhythm Technologies stock in a transaction on Monday, December 4th. The stock was sold at an average price of $55.00, for a total value of $65,615.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction on Monday, November 6th. The shares were sold at an average price of $51.85, for a total value of $3,111,000.00. Following the completion of the transaction, the insider now owns 103,042 shares of the company’s stock, valued at approximately $5,342,727.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 536,533 shares of company stock valued at $28,333,506. Corporate insiders own 23.30% of the company’s stock.
IRTC has been the topic of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $59.00 price target on shares of Irhythm Technologies in a research note on Tuesday, November 14th. Zacks Investment Research raised Irhythm Technologies from a “sell” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, October 4th. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. ValuEngine raised Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. Finally, Dougherty & Co initiated coverage on Irhythm Technologies in a research note on Friday, December 1st. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $65.25.
Irhythm Technologies 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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