iRhythm Technologies (NASDAQ:IRTC) EVP Mervin Smith Sells 732 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Mervin Smith sold 732 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $140.91, for a total value of $103,146.12. Following the transaction, the executive vice president owned 15,106 shares in the company, valued at $2,128,586.46. This represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

iRhythm Technologies Price Performance

IRTC stock traded up $2.52 during trading on Thursday, hitting $138.42. The company had a trading volume of 102,452 shares, compared to its average volume of 717,756. The company has a fifty day moving average price of $162.85 and a two-hundred day moving average price of $170.94. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00. The company has a market cap of $4.47 billion, a P/E ratio of -98.81 and a beta of 1.06. The company has a current ratio of 4.63, a quick ratio of 4.48 and a debt-to-equity ratio of 4.25.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.02 by $0.27. The business had revenue of $208.89 million for the quarter, compared to the consensus estimate of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.iRhythm Technologies’s revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. Equities research analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IRTC has been the topic of a number of recent analyst reports. Evercore upgraded shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $194.00 to $210.00 in a report on Monday, January 5th. Wall Street Zen upgraded shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. JPMorgan Chase & Co. lowered their target price on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, The Goldman Sachs Group increased their price target on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target of $211.62.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares during the last quarter. Ascent Group LLC boosted its position in shares of iRhythm Technologies by 0.7% during the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock worth $1,701,000 after acquiring an additional 70 shares during the last quarter. WoodTrust Financial Corp lifted its stake in iRhythm Technologies by 0.7% in the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock worth $1,787,000 after purchasing an additional 70 shares in the last quarter. US Bancorp DE boosted its holdings in shares of iRhythm Technologies by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after purchasing an additional 75 shares during the last quarter. Finally, State of Wyoming increased its stake in iRhythm Technologies by 16.0% in the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after acquiring an additional 85 shares during the last quarter.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.