Irhythm Technologies Inc (IRTC) Insider Kevin M. King Sells 60,000 Shares

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Irhythm Technologies Inc (NASDAQ:IRTC) insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.76, for a total value of $5,325,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of IRTC traded up $2.75 on Tuesday, reaching $94.01. 435,996 shares of the stock traded hands, compared to its average volume of 397,770. Irhythm Technologies Inc has a 12 month low of $55.18 and a 12 month high of $98.37. The stock has a market cap of $2.23 billion, a PE ratio of -49.74 and a beta of 1.79. The company has a current ratio of 3.52, a quick ratio of 3.45 and a debt-to-equity ratio of 0.64.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Tuesday, February 12th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.03). Irhythm Technologies had a negative net margin of 32.78% and a negative return on equity of 69.79%. The company had revenue of $43.16 million during the quarter, compared to the consensus estimate of $40.21 million. During the same quarter last year, the company earned ($0.48) earnings per share. The business’s revenue was up 53.2% on a year-over-year basis. Equities analysts forecast that Irhythm Technologies Inc will post -1.65 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on IRTC shares. Zacks Investment Research lowered Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. BidaskClub upgraded Irhythm Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Canaccord Genuity boosted their target price on Irhythm Technologies from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, January 11th. JPMorgan Chase & Co. boosted their target price on Irhythm Technologies to $110.00 in a report on Wednesday, February 13th. Finally, Morgan Stanley upped their price target on Irhythm Technologies from $85.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, February 13th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Irhythm Technologies presently has an average rating of “Buy” and an average price target of $98.25.

Large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Irhythm Technologies by 5.0% during the third quarter. BlackRock Inc. now owns 2,216,983 shares of the company’s stock worth $209,858,000 after purchasing an additional 105,780 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Irhythm Technologies by 54.0% during the third quarter. Vanguard Group Inc. now owns 1,350,269 shares of the company’s stock worth $127,816,000 after purchasing an additional 473,235 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Irhythm Technologies by 54.0% during the third quarter. Vanguard Group Inc now owns 1,350,269 shares of the company’s stock worth $127,816,000 after purchasing an additional 473,235 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Irhythm Technologies by 30.6% during the fourth quarter. Millennium Management LLC now owns 977,269 shares of the company’s stock worth $67,901,000 after purchasing an additional 229,090 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Irhythm Technologies by 2.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 738,676 shares of the company’s stock worth $51,323,000 after purchasing an additional 18,488 shares during the last quarter.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Insider Buying and Selling by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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