iRhythm Technologies (NASDAQ:IRTC) Insider Sells $570,787.36 in Stock

iRhythm Technologies (NASDAQ:IRTC) insider Chad Patterson sold 4,444 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $128.44, for a total transaction of $570,787.36. Following the sale, the insider directly owned 58,164 shares of the company’s stock, valued at $7,470,584.16. This represents a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 25th, Chad Patterson sold 8,967 shares of iRhythm Technologies stock. The shares were sold at an average price of $135.42, for a total transaction of $1,214,311.14.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $126.95 on Friday. The company has a current ratio of 4.63, a quick ratio of 4.48 and a debt-to-equity ratio of 4.25. The company has a market cap of $4.10 billion, a PE ratio of -90.68 and a beta of 1.09. The company has a 50 day moving average of $157.46 and a 200-day moving average of $169.55. iRhythm Technologies has a 1-year low of $92.52 and a 1-year high of $212.00.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRTC. Evercore raised iRhythm Technologies from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $194.00 to $210.00 in a research note on Monday, January 5th. Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Freedom Capital raised shares of iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies in the 3rd quarter valued at approximately $30,000. Root Financial Partners LLC bought a new stake in shares of iRhythm Technologies in the third quarter worth $30,000. GAMMA Investing LLC increased its holdings in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC raised its position in iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in iRhythm Technologies during the 3rd quarter worth $34,000.

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.