Daniel Wilson Sells 8,000 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) CFO Daniel Wilson sold 8,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the transaction, the chief financial officer directly owned 26,470 shares of the company’s stock, valued at approximately $5,490,936.80. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

iRhythm Technologies Stock Performance

NASDAQ:IRTC traded down $2.30 on Monday, hitting $185.00. The company’s stock had a trading volume of 605,296 shares, compared to its average volume of 455,037. The stock has a fifty day moving average of $177.41 and a two-hundred day moving average of $153.95. The firm has a market capitalization of $5.94 billion, a P/E ratio of -114.91 and a beta of 1.15. iRhythm Technologies has a one year low of $71.00 and a one year high of $212.00. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The firm had revenue of $192.88 million during the quarter, compared to analysts’ expectations of $184.75 million. During the same period in the previous year, the firm earned ($1.26) EPS. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. iRhythm Technologies has set its FY 2025 guidance at EPS. Research analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on IRTC. Evercore ISI dropped their price objective on iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Citigroup raised their price objective on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group raised their price objective on iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a research note on Friday. Needham & Company LLC raised their target price on iRhythm Technologies from $193.00 to $244.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird raised their price objective on shares of iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.57.

Institutional Investors Weigh In On iRhythm Technologies

A number of hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in iRhythm Technologies by 169.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock worth $94,535,000 after buying an additional 568,261 shares during the period. Champlain Investment Partners LLC lifted its stake in iRhythm Technologies by 13.3% in the first quarter. Champlain Investment Partners LLC now owns 822,791 shares of the company’s stock worth $86,130,000 after purchasing an additional 96,529 shares during the last quarter. Blair William & Co. IL grew its stake in iRhythm Technologies by 30.6% in the 1st quarter. Blair William & Co. IL now owns 789,999 shares of the company’s stock worth $82,697,000 after acquiring an additional 185,262 shares in the last quarter. Geode Capital Management LLC increased its holdings in iRhythm Technologies by 2.3% during the second quarter. Geode Capital Management LLC now owns 767,336 shares of the company’s stock valued at $118,154,000 after buying an additional 16,967 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in iRhythm Technologies by 6.2% during the second quarter. Stephens Investment Management Group LLC now owns 552,916 shares of the company’s stock valued at $85,127,000 after buying an additional 32,334 shares during the period.

iRhythm Technologies Company Profile

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.