iRhythm Technologies (NASDAQ:IRTC) EVP Minang Turakhia Sells 1,420 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) EVP Minang Turakhia sold 1,420 shares of iRhythm Technologies stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total transaction of $206,482.20. Following the sale, the executive vice president directly owned 41,393 shares in the company, valued at $6,018,956.13. The trade was a 3.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

iRhythm Technologies Price Performance

Shares of IRTC traded down $0.42 during trading hours on Friday, hitting $142.37. 206,877 shares of the stock were exchanged, compared to its average volume of 482,173. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $157.13. The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. The stock's 50-day moving average price is $139.98 and its two-hundred day moving average price is $115.66. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -45.34 and a beta of 1.41.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The business had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. The firm's revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.23) EPS. Research analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IRTC has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $104.00 to $130.00 in a report on Friday, May 2nd. Morgan Stanley upped their price objective on iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Canaccord Genuity Group dropped their price objective on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird boosted their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, iRhythm Technologies has an average rating of "Moderate Buy" and an average target price of $138.60.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC acquired a new position in shares of iRhythm Technologies during the 1st quarter valued at about $25,000. AlphaQuest LLC acquired a new stake in shares of iRhythm Technologies in the first quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in iRhythm Technologies during the 1st quarter valued at about $50,000. CWM LLC grew its position in iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company's stock valued at $54,000 after acquiring an additional 182 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in iRhythm Technologies in the 4th quarter valued at about $60,000.

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.