iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum Sells 280 Shares

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 280 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $140.91, for a total value of $39,454.80. Following the completion of the transaction, the chief accounting officer owned 10,601 shares in the company, valued at $1,493,786.91. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

iRhythm Technologies Trading Up 2.2%

iRhythm Technologies stock traded up $3.00 during trading hours on Thursday, reaching $138.90. 121,365 shares of the company’s stock traded hands, compared to its average volume of 718,211. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -98.70 and a beta of 1.06. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00. The firm’s 50 day moving average is $162.85 and its 200-day moving average is $170.94.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.27. The business had revenue of $208.89 million during the quarter, compared to the consensus estimate of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The firm’s revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. On average, analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in iRhythm Technologies during the 3rd quarter valued at $3,439,800,000. RTW Investments LP bought a new position in iRhythm Technologies during the fourth quarter valued at about $209,732,000. Millennium Management LLC grew its position in shares of iRhythm Technologies by 197.4% during the 4th quarter. Millennium Management LLC now owns 826,376 shares of the company’s stock valued at $146,632,000 after acquiring an additional 548,519 shares during the period. Arrowstreet Capital Limited Partnership increased its position in iRhythm Technologies by 6,415.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock worth $93,053,000 after buying an additional 532,735 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its stake in iRhythm Technologies by 24,782.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock valued at $57,773,000 after acquiring an additional 334,558 shares during the period.

Analyst Upgrades and Downgrades

IRTC has been the topic of several recent analyst reports. Citigroup boosted their price target on iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Robert W. Baird reduced their price objective on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 20th. BTIG Research raised their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. dropped their price objective on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average target price of $211.62.

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.