iRhythm Technologies (NASDAQ:IRTC) Insider Chad Patterson Sells 936 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC) insider Chad Patterson sold 936 shares of iRhythm Technologies stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $140,400.00. Following the sale, the insider now directly owns 48,929 shares of the company’s stock, valued at $7,339,350. The trade was a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $153.65 on Wednesday. The firm has a market cap of $4.90 billion, a PE ratio of -48.93 and a beta of 1.40. The company has a debt-to-equity ratio of 7.47, a current ratio of 5.71 and a quick ratio of 5.58. The stock’s fifty day moving average price is $133.25 and its two-hundred day moving average price is $112.86. iRhythm Technologies has a one year low of $55.92 and a one year high of $154.51.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The company had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. During the same quarter in the previous year, the business posted ($1.23) EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, research analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on IRTC. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Citigroup increased their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Robert W. Baird boosted their price target on iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Wells Fargo & Company upgraded iRhythm Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $104.00 to $130.00 in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group dropped their target price on iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average price target of $138.60.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds have recently bought and sold shares of the company. MCF Advisors LLC bought a new stake in shares of iRhythm Technologies during the 1st quarter worth approximately $25,000. AlphaQuest LLC bought a new position in iRhythm Technologies in the first quarter valued at approximately $30,000. Van ECK Associates Corp raised its position in iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after purchasing an additional 162 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in iRhythm Technologies during the first quarter valued at approximately $50,000. Finally, CWM LLC lifted its stake in iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares during the last quarter.

About iRhythm Technologies

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.