Brice Bobzien Sells 1,372 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now directly owns 24,428 shares in the company, valued at approximately $1,718,265.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

iRhythm Technologies Trading Down 8.9 %

IRTC stock traded down $6.35 during trading on Monday, hitting $64.64. The company had a trading volume of 544,805 shares, compared to its average volume of 423,687. The company has a 50 day simple moving average of $93.50 and a 200-day simple moving average of $103.47. The company has a quick ratio of 6.95, a current ratio of 7.10 and a debt-to-equity ratio of 7.13. iRhythm Technologies, Inc. has a 52-week low of $64.54 and a 52-week high of $124.11. The firm has a market capitalization of $2.01 billion, a P/E ratio of -15.28 and a beta of 1.25.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The business had revenue of $148.05 million during the quarter, compared to analysts’ expectations of $146.15 million. During the same period in the previous year, the business posted ($0.61) EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, research analysts forecast that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. Vanguard Group Inc. boosted its position in shares of iRhythm Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after acquiring an additional 35,694 shares during the last quarter. Capital Research Global Investors increased its stake in shares of iRhythm Technologies by 5.1% during the fourth quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock worth $267,132,000 after buying an additional 121,709 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of iRhythm Technologies by 5.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,071,500 shares of the company’s stock worth $221,733,000 after buying an additional 108,875 shares during the period. Blair William & Co. IL boosted its holdings in shares of iRhythm Technologies by 3.5% in the first quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after acquiring an additional 27,842 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in shares of iRhythm Technologies by 104.1% in the first quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after acquiring an additional 293,710 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IRTC. JPMorgan Chase & Co. dropped their target price on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley lowered their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Oppenheimer lowered their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.67.

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.