iRhythm Technologies (NASDAQ:IRTC) EVP Sells $101,245.76 in Stock

Key Points

• Mervin Smith, the EVP of iRhythm Technologies, sold 616 shares of the company's stock at an average price of $164.36, resulting in a transaction worth $101,245.76. Following the sale, he retains 15,838 shares valued at over $2.6 million.
• iRhythm Technologies' stock is currently down 2.8%, trading at $160.34, with a yearly range between $55.92 and $168.32.
• The company reported an EPS of ($0.32) for the last quarter, exceeding expectations, and had a revenue increase of 26.1% compared to the same quarter last year.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) EVP Mervin Smith sold 616 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $164.36, for a total transaction of $101,245.76. Following the sale, the executive vice president owned 15,838 shares of the company's stock, valued at $2,603,133.68. This represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

iRhythm Technologies Trading Down 0.1%

iRhythm Technologies stock traded down $0.15 during trading on Friday, reaching $160.84. The company had a trading volume of 243,588 shares, compared to its average volume of 475,133. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -54.89 and a beta of 1.41. The stock's 50 day moving average price is $143.70 and its two-hundred day moving average price is $123.55. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $168.32. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02.

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Citigroup increased their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $151.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Robert W. Baird raised their price target 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, William Blair raised iRhythm Technologies to a "strong-buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, iRhythm Technologies currently has an average rating of "Moderate Buy" and an average target price of $157.30.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of iRhythm Technologies by 169.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company's stock worth $94,535,000 after acquiring an additional 568,261 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in iRhythm Technologies during the 1st quarter worth approximately $54,249,000. First Light Asset Management LLC purchased a new position in shares of iRhythm Technologies during the 4th quarter valued at approximately $38,818,000. Millennium Management LLC boosted its stake in shares of iRhythm Technologies by 563.8% during the 1st quarter. Millennium Management LLC now owns 399,746 shares of the company's stock valued at $41,845,000 after buying an additional 339,529 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of iRhythm Technologies by 111.7% during the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after buying an additional 299,726 shares in the last quarter.

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.