iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Quentin S. Blackford Sells 16,145 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the sale, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

iRhythm Technologies Trading Up 6.4 %

Shares of IRTC opened at $86.68 on Wednesday. The company has a market capitalization of $2.71 billion, a P/E ratio of -17.84 and a beta of 1.23. 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 quick ratio of 6.12 and a current ratio of 6.27. The stock has a 50-day moving average price of $69.85 and a 200 day moving average price of $84.46.

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

Analyst Ratings Changes

IRTC has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Robert W. Baird decreased their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC decreased their target price on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup decreased their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $108.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IRTC. Headlands Technologies LLC lifted its holdings in iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after buying an additional 426 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after buying an additional 277 shares during the last quarter. SG Americas Securities LLC bought a new position in iRhythm Technologies during the 1st quarter worth approximately $126,000. nVerses Capital LLC lifted its holdings in iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,600 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after buying an additional 1,594 shares during the last quarter.

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.