iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar Buys 6,664 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar purchased 6,664 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the transaction, the director now owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

iRhythm Technologies Price Performance

IRTC stock opened at $86.68 on Wednesday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11. The firm has a 50-day moving average of $69.85 and a 200 day moving average of $84.46. The company has a market cap of $2.71 billion, a P/E ratio of -17.84 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The firm had revenue of $147.54 million for the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.89) EPS. On average, sell-side analysts forecast that iRhythm Technologies, Inc. will post -3.07 EPS for the current year.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its holdings in shares of iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after buying an additional 426 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares during the period. SG Americas Securities LLC bought a new stake in iRhythm Technologies during the first quarter worth about $126,000. nVerses Capital LLC grew its holdings in iRhythm Technologies by 400.0% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after purchasing an additional 1,600 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of iRhythm Technologies by 79,700.0% during the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after purchasing an additional 1,594 shares in the last quarter.

Analyst Ratings Changes

IRTC has been the subject of a number of recent research reports. Truist Financial boosted their target price on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC dropped their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Citigroup decreased their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird dropped their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Canaccord Genuity Group raised their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $108.50.

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.