iRhythm Technologies (NASDAQ:IRTC) EVP Mervin Smith Sells 616 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Mervin Smith sold 616 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $164.36, for a total value of $101,245.76. Following the sale, the executive vice president directly owned 15,838 shares of the company’s stock, valued at approximately $2,603,133.68. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

iRhythm Technologies Price Performance

IRTC opened at $160.34 on Wednesday. The stock has a 50-day moving average price of $143.40 and a 200-day moving average price of $123.32. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. The firm has a market cap of $5.15 billion, a PE ratio of -54.72 and a beta of 1.41. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $168.32.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.21. The firm had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%. iRhythm Technologies’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.61) EPS. Sell-side analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

IRTC has been the subject of a number of analyst reports. Citigroup increased their price objective on iRhythm Technologies from $130.00 to $167.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley dropped their price target on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. Needham & Company LLC raised their price target on iRhythm Technologies from $151.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. William Blair raised iRhythm Technologies to a “strong-buy” rating in a research note on Friday, August 1st. Finally, Wall Street Zen lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.30.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently bought and sold shares of the business. MCF Advisors LLC bought a new stake in iRhythm Technologies in the 1st quarter worth about $25,000. AlphaQuest LLC bought a new stake in iRhythm Technologies in the 1st quarter worth about $30,000. ANTIPODES PARTNERS Ltd bought a new stake in iRhythm Technologies in the 2nd quarter worth about $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in iRhythm Technologies in the 1st quarter worth about $50,000. Finally, CWM LLC grew its stake in shares of iRhythm Technologies by 54.3% during the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after purchasing an additional 182 shares during the period.

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.