Insider Selling: iRhythm Technologies, Inc. (NASDAQ:IRTC) EVP Sells 3000 Shares of Stock – MarketBeat

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iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) EVP Daniel G. Wilson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $122.57, for a total value of $367,710.00. Following the sale, the executive vice president now directly owns 34,562 shares in the company, valued at $4,236,264.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

iRhythm Technologies Stock Performance

IRTC traded up $3.65 during midday trading on Wednesday, hitting $122.48. 8,240 shares of the company were exchanged, compared to its average volume of 429,951. The company’s 50 day simple moving average is $149.14 and its 200 day simple moving average is $138.70. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -26.88 and a beta of 1.51. The company has a current ratio of 4.04, a quick ratio of 3.84 and a debt-to-equity ratio of 0.14. iRhythm Technologies, Inc. has a 1-year low of $56.49 and a 1-year high of $169.54.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.15. The firm had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $100.51 million. iRhythm Technologies had a negative return on equity of 38.95% and a negative net margin of 36.15%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm earned ($0.59) EPS. As a group, sell-side analysts predict that iRhythm Technologies, Inc. will post -3.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on iRhythm Technologies from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, September 22nd. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, September 2nd. Canaccord Genuity Group upped their target price on iRhythm Technologies from $185.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, September 2nd. Truist Financial lowered their target price on iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Finally, Citigroup increased their price objective on iRhythm Technologies to $157.00 in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $162.27.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IRTC. Truist Financial Corp grew its stake in shares of iRhythm Technologies by 0.4% during the second quarter. Truist Financial Corp now owns 20,940 shares of the company’s stock worth $2,262,000 after purchasing an additional 77 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of iRhythm Technologies by 1.2% during the first quarter. WINTON GROUP Ltd now owns 6,322 shares of the company’s stock worth $996,000 after acquiring an additional 78 shares during the period. Virginia Retirement Systems ET AL increased its stake in shares of iRhythm Technologies by 2.5% during the first quarter. Virginia Retirement Systems ET AL now owns 4,100 shares of the company’s stock worth $646,000 after acquiring an additional 100 shares during the period. Nisa Investment Advisors LLC grew its position in iRhythm Technologies by 9.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,126 shares of the company’s stock worth $122,000 after buying an additional 100 shares during the period. Finally, US Bancorp DE grew its position in iRhythm Technologies by 3.7% during the first quarter. US Bancorp DE now owns 4,012 shares of the company’s stock worth $632,000 after buying an additional 144 shares during the period. 98.98% of the stock is owned by hedge funds and other institutional investors.

iRhythm Technologies Company Profile

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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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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