Fmr LLC reduced its stake in shares of Irhythm Technologies Inc (NASDAQ:IRTC) by 1.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,872,638 shares of the company’s stock after selling 23,824 shares during the period. Fmr LLC owned approximately 0.08% of Irhythm Technologies worth $151,927,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRTC. Cubist Systematic Strategies LLC bought a new stake in shares of Irhythm Technologies during the 2nd quarter worth $101,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Irhythm Technologies during the 2nd quarter worth $140,000. Great West Life Assurance Co. Can lifted its position in shares of Irhythm Technologies by 119.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,979 shares of the company’s stock worth $161,000 after buying an additional 1,079 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Irhythm Technologies during the 2nd quarter worth $242,000. Finally, RB Capital Management LLC bought a new stake in shares of Irhythm Technologies during the 2nd quarter worth $243,000.
Irhythm Technologies stock opened at $78.70 on Tuesday. The company has a quick ratio of 4.69, a current ratio of 4.79 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -60.54 and a beta of 2.03. Irhythm Technologies Inc has a 12 month low of $46.95 and a 12 month high of $98.37.
Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Tuesday, October 30th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. The firm had revenue of $38.10 million during the quarter, compared to the consensus estimate of $35.87 million. Irhythm Technologies had a negative return on equity of 62.85% and a negative net margin of 33.79%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period last year, the company earned ($0.29) earnings per share. On average, research analysts anticipate that Irhythm Technologies Inc will post -1.86 EPS for the current year.
Several analysts recently weighed in on the company. Dougherty & Co downgraded Irhythm Technologies from a “neutral” rating to a “sell” rating in a research report on Monday, July 16th. BidaskClub downgraded Irhythm Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. BMO Capital Markets upped their price objective on Irhythm Technologies from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Chardan Capital assumed coverage on Irhythm Technologies in a research report on Thursday, September 6th. They set a “buy” rating and a $117.00 price objective for the company. Finally, BTIG Research restated a “hold” rating on shares of Irhythm Technologies in a research report on Thursday, August 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Irhythm Technologies presently has a consensus rating of “Buy” and an average price target of $93.13.
In other Irhythm Technologies news, EVP Derrick Sung sold 10,000 shares of the stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $88.01, for a total value of $880,100.00. Following the completion of the transaction, the executive vice president now directly owns 29,458 shares in the company, valued at $2,592,598.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.05% of the stock is currently owned by company insiders.
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Irhythm Technologies 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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