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 firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the sale, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

iRhythm Technologies Stock Up 6.4 %

Shares of IRTC stock opened at $86.68 on Wednesday. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11. The stock has a market cap of $2.71 billion, a PE ratio of -17.84 and a beta of 1.23. The business’s fifty day moving average is $69.85 and its 200-day moving average is $84.46. 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 (NASDAQ:IRTC) last issued its quarterly 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 net margin of 26.90% and a negative return on equity of 120.86%. The firm had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. During the same quarter last year, the business posted ($0.89) earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts expect that iRhythm Technologies, Inc. will post -3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IRTC. Morgan Stanley cut their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Needham & Company LLC cut their target price on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 target price on the stock. Truist Financial lifted their target price on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird cut their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $108.50.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its holdings in shares of iRhythm Technologies by 7.0% in the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company’s stock worth $27,302,000 after acquiring an additional 15,381 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after acquiring an additional 58,448 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of iRhythm Technologies in the 1st quarter worth $1,925,000. Assenagon Asset Management S.A. grew its holdings in shares of iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock worth $5,270,000 after acquiring an additional 38,344 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of iRhythm Technologies in the 1st quarter worth $58,311,000.

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.