iRhythm Technologies, Inc. (NASDAQ:IRTC) CFO Brice Bobzien Sells 1,372 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC) CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

iRhythm Technologies Price Performance

Shares of IRTC opened at $66.49 on Thursday. The firm has a market capitalization of $2.07 billion, a PE ratio of -15.72 and a beta of 1.25. The company has a debt-to-equity ratio of 7.13, a current ratio of 7.10 and a quick ratio of 6.95. iRhythm Technologies, Inc. has a 1-year low of $64.35 and a 1-year high of $124.11. The company’s fifty day moving average price is $92.26 and its 200-day moving average price is $102.48.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. The firm had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.61) earnings per share. On average, equities research analysts predict that iRhythm Technologies, Inc. will post -3.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. cut their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Wolfe Research raised shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, June 20th. Oppenheimer cut their price target on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Needham & Company LLC cut their price target on shares of iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.67.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds have recently added to or reduced their stakes in IRTC. International Assets Investment Management LLC purchased a new stake in iRhythm Technologies in the fourth quarter valued at $92,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in iRhythm Technologies by 4.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,835 shares of the company’s stock valued at $7,796,000 after purchasing an additional 3,307 shares during the last quarter. WCM Investment Management LLC boosted its holdings in iRhythm Technologies by 61.4% in the fourth quarter. WCM Investment Management LLC now owns 133,195 shares of the company’s stock valued at $14,497,000 after purchasing an additional 50,673 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of iRhythm Technologies by 3.3% in the fourth quarter. Handelsbanken Fonder AB now owns 6,239 shares of the company’s stock worth $668,000 after acquiring an additional 200 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of iRhythm Technologies by 25.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,300 shares of the company’s stock worth $3,136,000 after acquiring an additional 6,012 shares during the period.

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.