Chad Patterson Sells 936 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) insider Chad Patterson sold 936 shares of iRhythm Technologies stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $140,400.00. Following the sale, the insider now directly owns 48,929 shares of the company's stock, valued at approximately $7,339,350. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $154.71 on Friday. The firm has a market cap of $4.94 billion, a P/E ratio of -49.27 and a beta of 1.40. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $154.93. The business's 50-day moving average price is $136.39 and its 200 day moving average price is $114.07. The company has a quick ratio of 5.58, a current ratio of 5.71 and a debt-to-equity ratio of 7.47.

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

Analyst Ratings Changes

A number of research firms have weighed in on IRTC. Wall Street Zen cut iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Morgan Stanley raised their price objective on shares of iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Citigroup lifted their price target on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies has an average rating of "Moderate Buy" and an average target price of $138.60.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of iRhythm Technologies by 5.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock worth $297,000 after purchasing an additional 184 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of iRhythm Technologies by 5.9% during the 4th quarter. Handelsbanken Fonder AB now owns 10,839 shares of the company's stock worth $977,000 after purchasing an additional 600 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of iRhythm Technologies by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock worth $44,317,000 after purchasing an additional 92,591 shares during the period. Finally, Versor Investments LP acquired a new position in shares of iRhythm Technologies during the 4th quarter worth $251,000.

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.