Insider Buying: iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Buys 6,664 Shares of Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar purchased 6,664 shares of iRhythm Technologies stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $75.16 per share, for a total transaction 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 represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

iRhythm Technologies Price Performance

IRTC opened at $88.76 on Friday. The company has a fifty day moving average price of $70.27 and a two-hundred day moving average price of $84.49. The firm has a market capitalization of $2.78 billion, a PE ratio of -18.26 and a beta of 1.23. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week 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.

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 net margin of 26.90% and a negative return on equity of 120.86%. The company had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. During the same quarter in the prior year, the company posted ($0.89) EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IRTC. SeaCrest Wealth Management LLC increased its stake in iRhythm Technologies by 7.6% in the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after purchasing an additional 150 shares in the last quarter. Ascent Group LLC increased its position 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 buying an additional 175 shares in the last quarter. Swiss National Bank raised its stake in iRhythm Technologies by 0.3% during the 1st quarter. Swiss National Bank now owns 60,500 shares of the company’s stock worth $7,018,000 after buying an additional 200 shares during the period. Nisa Investment Advisors LLC lifted its holdings in iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after acquiring an additional 277 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in iRhythm Technologies by 3.4% in the second quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock valued at $938,000 after acquiring an additional 287 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Robert W. Baird reduced their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Morgan Stanley dropped their target price 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. Finally, The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.50.

About iRhythm Technologies

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.