iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Sells $1,249,784.45 in Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares of the company’s stock, valued at $12,380,103.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

iRhythm Technologies Stock Down 0.8 %

Shares of IRTC stock opened at $88.76 on Friday. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The stock has a fifty day moving average price of $70.27 and a 200 day moving average price of $84.49. The stock has a market cap of $2.78 billion, a P/E ratio of -18.26 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $147.54 million for the quarter, compared to the consensus estimate of $146.69 million. During the same period in the previous year, the business posted ($0.89) earnings per share. iRhythm Technologies’s revenue was up 18.4% on a year-over-year basis. Analysts predict that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Several large investors have recently modified their holdings of IRTC. SeaCrest Wealth Management LLC boosted its stake in iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after buying an additional 150 shares in the last quarter. Ascent Group LLC boosted its stake in shares of iRhythm Technologies by 4.6% in the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock valued at $462,000 after purchasing an additional 175 shares in the last quarter. Swiss National Bank grew its holdings in shares of iRhythm Technologies by 0.3% in the 1st quarter. Swiss National Bank now owns 60,500 shares of the company’s stock worth $7,018,000 after purchasing an additional 200 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of iRhythm Technologies by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after purchasing an additional 287 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Oppenheimer decreased their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Truist Financial increased their price objective on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Citigroup dropped 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 report on Thursday, August 22nd. One equities research 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.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.