iRhythm Technologies, Inc. (NASDAQ:IRTC) Insider Buys $20,994.40 in Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) insider Chad Patterson acquired 280 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $74.98 per share, with a total value of $20,994.40. Following the purchase, the insider now directly owns 40,145 shares in the company, valued at approximately $3,010,072.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Chad Patterson also recently made the following trade(s):

• On Friday, August 2nd, Chad Patterson sold 3,012 shares of iRhythm Technologies stock. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92.

iRhythm Technologies Trading Down 5.9 %

NASDAQ:IRTC opened at $68.50 on Thursday. The company has a market capitalization of $2.13 billion, a PE ratio of -16.19 and a beta of 1.25. iRhythm Technologies, Inc. has a 52-week low of $65.54 and a 52-week high of $124.11. The stock’s 50 day moving average price is $94.19 and its 200 day moving average price is $104.19. The company has a quick ratio of 6.95, a current ratio of 7.10 and a debt-to-equity ratio of 7.13.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on IRTC shares. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Oppenheimer dropped their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $117.00 target price (down previously from $134.00) on shares of iRhythm Technologies in a research report on Friday, August 2nd. Finally, Robert W. Baird dropped their price target on shares of iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.67.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC boosted its holdings in iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after purchasing an additional 426 shares in the last quarter. Nisa Investment Advisors LLC grew 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 during the period. International Assets Investment Management LLC purchased a new position in iRhythm Technologies in the fourth quarter worth $92,000. SG Americas Securities LLC acquired a new stake in iRhythm Technologies in the first quarter valued at $126,000. Finally, Russell Investments Group Ltd. grew its stake in shares of 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 purchasing an additional 1,594 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.