iRhythm Technologies (NASDAQ:IRTC) CAO Sells $104,815.20 in Stock

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 816 shares of iRhythm Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.45, for a total transaction of $104,815.20. Following the completion of the sale, the chief accounting officer owned 16,706 shares of the company’s stock, valued at $2,145,885.70. This trade represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Marc Wade Rosenbaum also recently made the following trade(s):

• On Wednesday, February 25th, Marc Wade Rosenbaum sold 4,797 shares of iRhythm Technologies stock. The stock was sold at an average price of $135.42, for a total transaction of $649,609.74.
• On Tuesday, February 24th, Marc Wade Rosenbaum sold 280 shares of iRhythm Technologies stock. The shares were sold at an average price of $140.91, for a total transaction of $39,454.80.

iRhythm Technologies Price Performance

NASDAQ IRTC opened at $126.95 on Friday. The stock’s fifty day moving average price is $157.46 and its 200 day moving average price is $169.55. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -90.68 and a beta of 1.09.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $244.00 price objective on shares of iRhythm Technologies in a research note on Monday, January 12th. Canaccord Genuity Group decreased their price objective on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating for the company in a report on Friday, February 20th. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $200.00 target price (down from $215.00) on shares of iRhythm Technologies in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

Hedge Funds Weigh In On iRhythm Technologies

A number of hedge funds have recently made changes to their positions in IRTC. Measured Wealth Private Client Group LLC purchased a new position in shares of iRhythm Technologies in the third quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new position in iRhythm Technologies in the 3rd quarter valued at $30,000. GAMMA Investing LLC boosted its stake in iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after purchasing an additional 60 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of iRhythm Technologies by 100.0% during the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after buying an additional 99 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of iRhythm Technologies in the third quarter valued at about $34,000.

iRhythm Technologies Company Profile

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.