Abhijit Talwalkar Buys 5,312 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) Director Abhijit Talwalkar bought 5,312 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the purchase, the director directly owned 25,611 shares in the company, valued at $274,293.81. This trade represents a 26.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

iRhythm Technologies Stock Down 3.1%

Shares of IRTC opened at $114.66 on Thursday. The business’s 50 day moving average is $120.20 and its 200 day moving average is $151.27. The company has a market capitalization of $3.77 billion, a PE ratio of -133.32 and a beta of 1.33. iRhythm Technologies has a 12-month low of $112.31 and a 12-month high of $212.00. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.21. The business had revenue of $199.39 million during the quarter, compared to analysts’ expectations of $194.11 million. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.97) EPS. Research analysts expect that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new position in shares of iRhythm Technologies in the 3rd quarter worth approximately $3,439,800,000. Vanguard Group Inc. lifted its stake in shares of iRhythm Technologies by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock worth $587,418,000 after acquiring an additional 70,420 shares during the last quarter. RTW Investments LP bought a new stake in shares of iRhythm Technologies during the 4th quarter worth approximately $209,732,000. Geode Capital Management LLC lifted its stake in shares of iRhythm Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock worth $152,337,000 after acquiring an additional 68,301 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of iRhythm Technologies by 45.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock worth $147,251,000 after acquiring an additional 259,800 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen upgraded iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Sunday, May 3rd. Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. The Goldman Sachs Group dropped their target price on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.38.

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.