Amalgamated Bank purchased a new position in Irhythm Technologies Inc (NASDAQ:IRTC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,543 shares of the company’s stock, valued at approximately $246,000.
Several other institutional investors also recently bought and sold shares of IRTC. Quantamental Technologies LLC bought a new stake in Irhythm Technologies during the fourth quarter valued at $55,000. Pearl River Capital LLC bought a new stake in Irhythm Technologies during the fourth quarter valued at $66,000. Bank of Montreal Can boosted its stake in Irhythm Technologies by 574.7% during the fourth quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock valued at $78,000 after buying an additional 954 shares during the period. PNC Financial Services Group Inc. boosted its stake in Irhythm Technologies by 38.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock valued at $89,000 after buying an additional 358 shares during the period. Finally, Rehmann Capital Advisory Group bought a new stake in Irhythm Technologies during the third quarter valued at $160,000.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 20,203 shares of the firm’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $85.00, for a total transaction of $1,717,255.00. Following the sale, the chief financial officer now owns 40,407 shares in the company, valued at $3,434,595. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin M. King sold 60,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.76, for a total value of $5,325,600.00. The disclosure for this sale can be found here. Insiders have sold 138,094 shares of company stock worth $12,275,353 in the last 90 days. Company insiders own 5.05% of the company’s stock.
NASDAQ IRTC opened at $69.74 on Tuesday. Irhythm Technologies Inc has a twelve month low of $55.18 and a twelve month high of $98.37. The company has a current ratio of 3.52, a quick ratio of 3.45 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -36.90 and a beta of 1.72.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Tuesday, February 12th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.03). Irhythm Technologies had a negative net margin of 32.78% and a negative return on equity of 69.79%. The firm had revenue of $43.16 million for the quarter, compared to analysts’ expectations of $40.21 million. During the same quarter in the previous year, the business earned ($0.48) EPS. The company’s revenue for the quarter was up 53.2% on a year-over-year basis. On average, analysts predict that Irhythm Technologies Inc will post -1.65 EPS for the current fiscal year.
Several research firms recently issued reports on IRTC. BTIG Research reissued a “hold” rating on shares of Irhythm Technologies in a research note on Wednesday, February 13th. BMO Capital Markets lifted their price objective on Irhythm Technologies from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 13th. Chardan Capital lowered Irhythm Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $111.00 to $104.00 in a research note on Wednesday, February 20th. Northland Securities reissued a “hold” rating and set a $75.00 price objective on shares of Irhythm Technologies in a research note on Wednesday, February 13th. Finally, BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $96.22.
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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