iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Quentin S. Blackford Sells 16,145 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the transaction, the chief executive officer now directly owns 159,929 shares in the company, valued at $12,380,103.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

iRhythm Technologies Stock Performance

Shares of IRTC traded up $7.08 during midday trading on Tuesday, hitting $88.52. 526,945 shares of the stock traded hands, compared to its average volume of 472,273. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The firm has a market capitalization of $2.77 billion, a PE ratio of -18.05 and a beta of 1.23. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The business’s 50 day moving average price is $69.48 and its two-hundred day moving average price is $84.64.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, October 30th. The company reported ($1.26) 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 firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. During the same period last year, the business earned ($0.89) earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities research analysts predict that iRhythm Technologies, Inc. will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of IRTC. Headlands Technologies LLC lifted its position in 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 in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of 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 buying an additional 277 shares during the last quarter. SG Americas Securities LLC acquired a new position in iRhythm Technologies in the first quarter valued at $126,000. nVerses Capital LLC increased its position in iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after acquiring an additional 1,594 shares during the period.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Oppenheimer reduced their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC lowered their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Citigroup lowered their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley lowered their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.50.

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.