Metropolitan Life Insurance Co NY reduced its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,783 shares of the company’s stock after selling 215 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Irhythm Technologies were worth $583,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rehmann Capital Advisory Group raised its position in Irhythm Technologies by 2,617.6% in the first quarter. Rehmann Capital Advisory Group now owns 2,935 shares of the company’s stock worth $220,000 after acquiring an additional 2,827 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Irhythm Technologies in the first quarter valued at $566,000. GAM Holding AG acquired a new stake in Irhythm Technologies in the first quarter valued at $2,952,000. Federated Investors Inc. PA grew its holdings in Irhythm Technologies by 19.8% in the first quarter. Federated Investors Inc. PA now owns 194,489 shares of the company’s stock valued at $14,579,000 after purchasing an additional 32,200 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Irhythm Technologies by 9.2% in the first quarter. CIBC Private Wealth Group LLC now owns 3,576 shares of the company’s stock valued at $268,000 after purchasing an additional 301 shares during the last quarter.
Several analysts have weighed in on IRTC shares. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, BTIG Research lowered GTT Communications from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $97.33.
Irhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.17. Irhythm Technologies had a negative return on equity of 71.31% and a negative net margin of 27.56%. The business had revenue of $47.21 million for the quarter, compared to analyst estimates of $43.83 million. During the same quarter last year, the company earned ($0.47) earnings per share. The business’s revenue for the quarter was up 54.4% compared to the same quarter last year. On average, equities analysts forecast that Irhythm Technologies Inc will post -1.53 EPS for the current fiscal year.
In other news, insider Kevin M. King sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $70.00, for a total value of $4,200,000.00. Following the transaction, the insider now directly owns 212,400 shares in the company, valued at approximately $14,868,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Merz Cathleen Noel Bairey sold 1,209 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $76.40, for a total value of $92,367.60. Following the completion of the transaction, the director now owns 3,844 shares in the company, valued at $293,681.60. The disclosure for this sale can be found here. Corporate insiders own 3.85% of the company’s stock.
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.
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