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

iRhythm Technologies (NASDAQ:IRTC) insider Chad Patterson sold 4,444 shares of the business’s stock in a transaction on 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 owned 58,164 shares in the company, valued at $7,470,584.16. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 Price Performance

IRTC stock traded down $2.61 during trading on Tuesday, reaching $125.85. 593,038 shares of the company were exchanged, compared to its average volume of 735,152. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. The stock’s 50 day moving average price is $159.40 and its 200 day moving average price is $170.14. iRhythm Technologies has a 52-week low of $92.52 and a 52-week high of $212.00. The company has a market cap of $4.07 billion, a P/E ratio of -89.89 and a beta of 1.10.

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

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in shares of iRhythm Technologies in the third quarter valued at approximately $3,439,800,000. RTW Investments LP purchased a new stake in iRhythm Technologies in the 4th quarter worth approximately $209,732,000. Millennium Management LLC raised its holdings in iRhythm Technologies by 197.4% in 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 last quarter. Arrowstreet Capital Limited Partnership raised its holdings in iRhythm Technologies by 6,415.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock valued at $93,053,000 after acquiring an additional 532,735 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its stake in shares of iRhythm Technologies by 24,782.1% during the 3rd quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock worth $57,773,000 after purchasing an additional 334,558 shares during the period.

Wall Street Analyst Weigh In

IRTC has been the topic of several research reports. Robert W. Baird lowered their target price on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $244.00 price objective on shares of iRhythm Technologies in a research report on Monday, January 12th. Wells Fargo & Company dropped their target price on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Wall Street Zen upgraded shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Canaccord Genuity Group lowered 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 report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target 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.