Minang Turakhia Sells 1,420 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Minang Turakhia sold 1,420 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total value of $206,482.20. Following the sale, the executive vice president owned 41,393 shares in the company, valued at approximately $6,018,956.13. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

iRhythm Technologies Price Performance

Shares of IRTC opened at $142.37 on Friday. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -45.34 and a beta of 1.41. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $157.13. The stock has a 50 day moving average of $139.98 and a 200-day moving average of $115.66. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47.

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

Analysts Set New Price Targets

IRTC has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Morgan Stanley boosted their price objective on shares of iRhythm Technologies from $130.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Wells Fargo & Company raised shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Wall Street Zen cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Finally, Robert W. Baird raised their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average price target of $138.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of iRhythm Technologies by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company’s stock worth $282,806,000 after buying an additional 18,442 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in iRhythm Technologies by 169.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock worth $94,535,000 after acquiring an additional 568,261 shares during the period. Champlain Investment Partners LLC grew its stake in shares of iRhythm Technologies by 13.3% in the first quarter. Champlain Investment Partners LLC now owns 822,791 shares of the company’s stock worth $86,130,000 after purchasing an additional 96,529 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of iRhythm Technologies by 30.6% during the first quarter. Blair William & Co. IL now owns 789,999 shares of the company’s stock valued at $82,697,000 after purchasing an additional 185,262 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of iRhythm Technologies by 1.1% during the first quarter. Bessemer Group Inc. now owns 574,053 shares of the company’s stock valued at $60,092,000 after purchasing an additional 6,046 shares in 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.