iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Sells $1,249,784.45 in Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the sale, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

iRhythm Technologies Stock Up 8.7 %

Shares of NASDAQ IRTC traded up $7.08 during mid-day trading on Tuesday, reaching $88.52. 526,945 shares of the company traded hands, compared to its average volume of 472,273. The company’s fifty day moving average is $69.48 and its two-hundred day moving average is $84.64. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The stock has a market cap of $2.77 billion, a PE ratio of -18.05 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same quarter last year, the firm posted ($0.89) earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. On average, analysts expect that iRhythm Technologies, Inc. will post -3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRTC shares. Robert W. Baird decreased their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Truist Financial boosted their price target on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley decreased their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC increased its holdings in shares of iRhythm Technologies by 10,650.0% during the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after purchasing an additional 426 shares during the period. Nisa Investment Advisors LLC grew its position in iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after acquiring an additional 277 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of iRhythm Technologies in the first quarter valued at approximately $126,000. Russell Investments Group Ltd. grew its holdings in shares of iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after acquiring an additional 1,594 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,600 shares during the period.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.