iRhythm Technologies, Inc. (NASDAQ:IRTC) Insider Patrick Michael Murphy Sells 2,492 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC) insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

iRhythm Technologies Trading Up 0.9 %

NASDAQ:IRTC opened at $86.80 on Thursday. The stock has a 50-day simple moving average of $75.12 and a 200-day simple moving average of $81.35. The stock has a market cap of $2.72 billion, a P/E ratio of -17.86 and a beta of 1.26. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.89) earnings per share. As a group, analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday. The Goldman Sachs Group assumed coverage on iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 price target on the stock. Truist Financial upped their price target on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Citigroup cut their price objective on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its position in shares of iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock valued at $5,935,000 after purchasing an additional 58,448 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock valued at $5,270,000 after purchasing an additional 38,344 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of iRhythm Technologies by 14.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company’s stock valued at $51,192,000 after purchasing an additional 60,560 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $1,497,000. Finally, Eagle Asset Management Inc. boosted its position in shares of iRhythm Technologies by 44.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after purchasing an additional 31,193 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.