IRHYTHM TECH (NASDAQ:IRTC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $48.20 and last traded at $48.23, with a volume of 78,052 shares traded. The stock had previously closed at $47.85.

IRTC has been the topic of several recent analyst reports. Morgan Stanley increased their target price on IRHYTHM TECH from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Zacks Investment Research downgraded IRHYTHM TECH from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Canaccord Genuity restated a “buy” rating and issued a $42.00 price objective on shares of IRHYTHM TECH in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.75.

The company has a 50-day moving average price of $44.11 and a 200-day moving average price of $38.90. The stock’s market cap is $1.09 billion.

IRHYTHM TECH (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. IRHYTHM TECH had a negative return on equity of 57.23% and a negative net margin of 27.34%. The business had revenue of $23.85 million for the quarter, compared to the consensus estimate of $22.10 million. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. Analysts anticipate that IRHYTHM TECH will post ($1.13) earnings per share for the current year.

In other IRHYTHM TECH news, CFO Matthew C. Garrett sold 25,086 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $42.06, for a total value of $1,055,117.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond W. Scott sold 12,749 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $45.30, for a total value of $577,529.70. Following the completion of the transaction, the director now owns 12,749 shares in the company, valued at approximately $577,529.70. The disclosure for this sale can be found here. Insiders sold 200,738 shares of company stock worth $8,567,489 in the last 90 days. Corporate insiders own 23.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors grew its stake in IRHYTHM TECH by 103.2% in the second quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock valued at $101,941,000 after purchasing an additional 1,218,580 shares in the last quarter. FMR LLC grew its stake in IRHYTHM TECH by 382.2% in the second quarter. FMR LLC now owns 1,542,886 shares of the company’s stock valued at $65,557,000 after purchasing an additional 1,222,886 shares in the last quarter. Franklin Resources Inc. grew its stake in IRHYTHM TECH by 5.0% in the second quarter. Franklin Resources Inc. now owns 1,109,613 shares of the company’s stock valued at $47,147,000 after purchasing an additional 53,260 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in IRHYTHM TECH by 43.7% in the second quarter. TimesSquare Capital Management LLC now owns 1,060,230 shares of the company’s stock valued at $45,049,000 after purchasing an additional 322,300 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in IRHYTHM TECH by 644.3% in the second quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock valued at $37,561,000 after purchasing an additional 765,218 shares in the last quarter. Hedge funds and other institutional investors own 93.25% of the company’s stock.

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About IRHYTHM TECH

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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