Insider Selling: iRhythm Technologies (NASDAQ:IRTC) Director Sells 5,312 Shares of Stock

Key Points

• Abhijit Y. Talwalkar, a director at iRhythm Technologies, sold 5,312 shares of the company's stock for a total of $839,402.24, representing a 20.74% decrease in ownership.
• iRhythm Technologies' stock rose 1.1% to $162.35 following the insider sale, with a market capitalization of $5.22 billion.
• Analysts have given iRhythm Technologies an average rating of "Moderate Buy", with price targets ranging from $130 to $180.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) Director Abhijit Y. Talwalkar sold 5,312 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $158.02, for a total value of $839,402.24. Following the completion of the sale, the director owned 20,299 shares in the company, valued at $3,207,647.98. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

iRhythm Technologies Stock Up 1.1%

NASDAQ IRTC traded up $1.79 on Tuesday, reaching $162.35. The company had a trading volume of 451,993 shares, compared to its average volume of 475,277. The stock has a market capitalization of $5.22 billion, a P/E ratio of -55.41 and a beta of 1.41. The company's fifty day moving average is $144.81 and its 200 day moving average is $124.79. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $168.32. The company has a quick ratio of 4.88, a current ratio of 5.02 and a debt-to-equity ratio of 6.25.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.21. The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%. iRhythm Technologies's quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.61) EPS. Sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

Several large investors have recently made changes to their positions in the business. MCF Advisors LLC purchased a new position in iRhythm Technologies in the first quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd purchased a new position in iRhythm Technologies in the second quarter valued at approximately $39,000. AlphaQuest LLC purchased a new position in iRhythm Technologies in the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in iRhythm Technologies in the 1st quarter worth about $50,000. Finally, CWM LLC increased its holdings in iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after acquiring an additional 182 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on IRTC shares. Wells Fargo & Company upped their target price on iRhythm Technologies from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC boosted their price target on iRhythm Technologies from $151.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Citigroup upped their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird upped their target price on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.30.

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.

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