iRhythm Technologies, Inc. (NASDAQ:IRTC) Insider Patrick Michael Murphy Sells 2,492 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC) insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

iRhythm Technologies Stock Down 2.1 %

Shares of NASDAQ IRTC traded down $1.88 during trading on Tuesday, reaching $86.02. The company had a trading volume of 343,662 shares, compared to its average volume of 472,543. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The business’s 50-day moving average is $74.53 and its 200 day moving average is $81.38. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The stock has a market cap of $2.69 billion, a PE ratio of -18.09 and a beta of 1.26.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) 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 business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same quarter in the previous year, the firm earned ($0.89) earnings per share. iRhythm Technologies’s revenue was up 18.4% on a year-over-year basis. As a group, equities analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Institutional Trading of iRhythm Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of IRTC. Synovus Financial Corp increased its holdings in shares of iRhythm Technologies by 28.8% during the third quarter. Synovus Financial Corp now owns 8,718 shares of the company’s stock valued at $647,000 after acquiring an additional 1,948 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of iRhythm Technologies in the third quarter worth about $119,000. Geode Capital Management LLC grew its holdings in shares of iRhythm Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock valued at $54,451,000 after purchasing an additional 5,423 shares during the period. Brophy Wealth Management LLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth about $274,000. Finally, Barclays PLC raised its stake in shares of iRhythm Technologies by 34.3% in the third quarter. Barclays PLC now owns 209,247 shares of the company’s stock valued at $15,534,000 after acquiring an additional 53,498 shares in the last quarter.

Analyst Ratings Changes

IRTC has been the topic of several research analyst reports. Canaccord Genuity Group boosted 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 increased their target price on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Needham & Company LLC dropped their target price on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target of $106.45.

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.