iRhythm Technologies (NASDAQ:IRTC) Director Abhijit Talwalkar Sells 5,312 Shares

iRhythm Technologies (NASDAQ:IRTC) Director Abhijit Talwalkar sold 5,312 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $145.70, for a total value of $773,958.40. Following the sale, the director directly owned 20,299 shares of the company’s stock, valued at $2,957,564.30. This represents a 20.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

iRhythm Technologies Trading Down 2.9%

Shares of iRhythm Technologies stock traded down $4.12 on Tuesday, reaching $137.10. 669,353 shares of the company’s stock were exchanged, compared to its average volume of 740,713. The company has a market capitalization of $4.43 billion, a P/E ratio of -97.93 and a beta of 1.06. iRhythm Technologies has a 52 week low of $92.52 and a 52 week high of $212.00. The firm’s 50-day moving average is $164.10 and its two-hundred day moving average is $171.34. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.27. The company had revenue of $208.89 million during the quarter, compared to analyst estimates of $202.61 million. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. iRhythm Technologies’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. Sell-side analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Root Financial Partners LLC purchased a new stake in iRhythm Technologies in the 3rd quarter valued at about $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its holdings in iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after acquiring an additional 60 shares during the period. Smartleaf Asset Management LLC boosted its position in iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in iRhythm Technologies in the 3rd quarter valued at $34,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IRTC shares. Wall Street Zen upgraded iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Evercore raised shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $194.00 to $210.00 in a research report on Monday, January 5th. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $244.00 price objective on shares of iRhythm Technologies in a research note on Monday, January 12th. Finally, Morgan Stanley reissued an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.62.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.