iRhythm Technologies (NASDAQ:IRTC) Insider Sells $140,400.00 in 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 shares were sold at an average price of $150.00, for a total value of $140,400.00. Following the transaction, the insider now directly owns 48,929 shares of the company's stock, valued at approximately $7,339,350. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

iRhythm Technologies Trading Up 1.8%

NASDAQ IRTC traded up $2.70 on Tuesday, reaching $153.65. The company had a trading volume of 469,338 shares, compared to its average volume of 480,199. The company has a quick ratio of 5.58, a current ratio of 5.71 and a debt-to-equity ratio of 7.47. The stock's 50 day moving average is $132.19 and its 200-day moving average is $112.57. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $154.46. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -48.93 and a beta of 1.40.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. During the same period in the prior year, the business earned ($1.23) EPS. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. Equities analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on IRTC. Needham & Company LLC boosted their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley lifted their target price on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen cut iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Robert W. Baird lifted their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Citigroup increased their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. One 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 stock. According to MarketBeat, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.60.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of iRhythm Technologies by 30,928.6% in the 1st quarter. GAMMA Investing LLC now owns 8,688 shares of the company's stock valued at $909,000 after buying an additional 8,660 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of iRhythm Technologies by 95.6% during the 1st quarter. SG Americas Securities LLC now owns 8,427 shares of the company's stock worth $882,000 after purchasing an additional 4,119 shares during the last quarter. Invesco Ltd. raised its holdings in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after purchasing an additional 207 shares during the period. Bank of New York Mellon Corp lifted its stake in iRhythm Technologies by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock valued at $44,317,000 after purchasing an additional 92,591 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in iRhythm Technologies by 32.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock worth $449,000 after buying an additional 1,215 shares during the last quarter.

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.

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