Teacher Retirement System of Texas bought a new position in Irhythm Technologies Inc (NASDAQ:IRTC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,495 shares of the company’s stock, valued at approximately $284,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Irhythm Technologies in the 1st quarter worth $112,000. Alambic Investment Management L.P. bought a new stake in Irhythm Technologies during the 1st quarter worth about $208,000. RB Capital Management LLC bought a new stake in Irhythm Technologies during the 2nd quarter worth about $243,000. Bluestein R H & Co. bought a new stake in Irhythm Technologies during the 1st quarter worth about $283,000. Finally, Amalgamated Bank bought a new stake in Irhythm Technologies during the 2nd quarter worth about $295,000.
Shares of NASDAQ:IRTC opened at $95.06 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.47 and a current ratio of 5.58. Irhythm Technologies Inc has a one year low of $46.95 and a one year high of $96.00.
Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, August 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.12). The firm had revenue of $35.50 million during the quarter, compared to the consensus estimate of $32.52 million. Irhythm Technologies had a negative net margin of 34.38% and a negative return on equity of 53.59%. The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) earnings per share. sell-side analysts forecast that Irhythm Technologies Inc will post -1.91 earnings per share for the current fiscal year.
Several brokerages have commented on IRTC. BidaskClub raised shares of Irhythm Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Chardan Capital began coverage on shares of Irhythm Technologies in a research report on Thursday. They set a “buy” rating and a $117.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Irhythm Technologies to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 10th. Dougherty & Co raised shares of Irhythm Technologies from a “sell” rating to a “neutral” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Irhythm Technologies presently has a consensus rating of “Buy” and a consensus target price of $88.38.
In other news, Director Raymond W. Scott sold 6,877 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $80.41, for a total value of $552,979.57. Following the sale, the director now directly owns 8,905 shares of the company’s stock, valued at approximately $716,051.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew C. Garrett sold 14,537 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $83.91, for a total transaction of $1,219,799.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,414 shares of company stock worth $7,566,879. 23.30% of the stock is owned by insiders.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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