Marc Wade Rosenbaum Sells 280 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $140.91, for a total value of $39,454.80. Following the transaction, the chief accounting officer directly owned 10,601 shares in the company, valued at $1,493,786.91. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

iRhythm Technologies Stock Down 0.9%

NASDAQ:IRTC traded down $1.20 during mid-day trading on Wednesday, hitting $135.90. 497,567 shares of the company’s stock were exchanged, compared to its average volume of 734,337. iRhythm Technologies has a one year low of $92.52 and a one 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 $4.39 billion, a PE ratio of -97.07 and a beta of 1.06. The business has a fifty day moving average price of $162.85 and a 200 day moving average price of $170.94.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results 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. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The firm had revenue of $208.89 million for the quarter, compared to the consensus estimate of $202.61 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The business’s revenue was up 27.1% on a year-over-year basis. Equities analysts predict that iRhythm Technologies will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IRTC. Robert W. Baird dropped their price objective on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Loop Capital set a $220.00 target price on shares of iRhythm Technologies in a report on Friday, October 31st. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target (down from $215.00) on shares of iRhythm Technologies in a research note on Friday, February 20th. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, Evercore upgraded shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $194.00 to $210.00 in a report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.62.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies during the third quarter worth about $30,000. Root Financial Partners LLC purchased a new position in iRhythm Technologies in the third quarter valued at $30,000. GAMMA Investing LLC increased its position in iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in iRhythm Technologies during the third quarter worth $34,000.

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.