iRhythm Technologies (NASDAQ:IRTC) CEO Quentin Blackford Sells 14,059 Shares

iRhythm Technologies (NASDAQ:IRTC) CEO Quentin Blackford sold 14,059 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the transaction, the chief executive officer owned 164,979 shares of the company’s stock, valued at approximately $30,181,258.26. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC traded down $3.90 during midday trading on Tuesday, reaching $181.10. The company had a trading volume of 501,784 shares, compared to its average volume of 455,259. The business’s 50-day simple moving average is $177.67 and its 200 day simple moving average is $154.52. The stock has a market cap of $5.84 billion, a P/E ratio of -112.48 and a beta of 1.13. iRhythm Technologies has a 1 year low of $71.00 and a 1 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 posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.30. The business had revenue of $192.88 million during the quarter, compared to analysts’ expectations of $184.75 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The business’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.26) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

A number of large investors have recently bought and sold shares of the business. MCF Advisors LLC purchased a new stake in iRhythm Technologies in the 1st quarter worth $25,000. AlphaQuest LLC acquired a new position in shares of iRhythm Technologies during the 1st quarter worth about $30,000. Root Financial Partners LLC purchased a new position in iRhythm Technologies in the 3rd quarter valued at about $30,000. ANTIPODES PARTNERS Ltd acquired a new stake in iRhythm Technologies in the 2nd quarter worth about $39,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in iRhythm Technologies during the 1st quarter worth approximately $50,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IRTC. Truist Financial increased their price objective on shares of iRhythm Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Robert W. Baird increased their price target on iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Citigroup lifted 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. Morgan Stanley reduced their price objective on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. Finally, Bank of America started coverage on iRhythm Technologies in a research note on Wednesday, August 20th. They set a “buy” rating and a $200.00 price objective for the company. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.57.

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.