Insider Selling: iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO Sells 16,145 Shares of Stock

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 transaction of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares in the company, valued at approximately $12,380,103.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

iRhythm Technologies Price Performance

NASDAQ IRTC opened at $89.50 on Thursday. The company’s 50 day simple moving average is $70.27 and its two-hundred day simple moving average is $84.49. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (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 during the quarter, compared to analysts’ expectations of $146.69 million. During the same quarter last year, the business posted ($0.89) EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, research analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Institutional Trading of iRhythm Technologies

A number of large investors have recently modified their holdings of the business. Mackenzie Financial Corp increased its position in shares of iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock worth $153,745,000 after purchasing an additional 80,091 shares during the last quarter. Blair William & Co. IL raised its position in shares of iRhythm Technologies by 3.5% during the 1st quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after buying an additional 27,842 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of iRhythm Technologies by 104.1% during the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after acquiring an additional 293,710 shares during the last quarter. Point72 Asset Management L.P. grew its position in iRhythm Technologies by 12.3% in the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after acquiring an additional 58,668 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in iRhythm Technologies by 9.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company’s stock valued at $38,603,000 after acquiring an additional 44,387 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup reduced their price objective on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC decreased their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Canaccord Genuity Group upped their price objective on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Truist Financial lifted their target price on shares of iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Oppenheimer cut their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.