Key Points
- Insider sale: Director Patrick Michael Murphy sold 2,478 shares at an average $184.83 for a total of $458,008.74, reducing his stake by 4.44% to 53,281 shares (~$9.85M).
- Stock and balance-sheet snapshot: shares opened at $183.04 with a 52-week range of $81.10–$212.00, a market cap of $5.9B, a negative P/E (-113.69), and 50-/200-day moving averages of $178.05/$162.40.
- Recent results and analyst view: the company reported ($0.06) EPS vs. consensus ($0.36) and revenue of $192.88M (+30.8% y/y), and analysts hold a consensus "Moderate Buy" with an average price target of $205.71.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) insider Chad Patterson sold 280 shares of the business's stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $51,752.40. Following the completion of the sale, the insider owned 43,387 shares in the company, valued at approximately $8,019,219.21. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
iRhythm Technologies Stock Down 0.8%
Shares of iRhythm Technologies stock opened at $181.59 on Thursday. The firm has a market cap of $5.85 billion, a PE ratio of -113.23 and a beta of 1.10. The business's 50 day simple moving average is $178.05 and its 200 day simple moving average is $162.40. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. iRhythm Technologies has a 52-week low of $81.10 and a 52-week high of $212.00.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.36) by $0.30. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The company had revenue of $192.88 million for the quarter, compared to the consensus estimate of $184.75 million. During the same period last year, the company earned ($1.26) earnings per share. The firm's revenue was up 30.8% compared to the same quarter last year. On average, analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.
Institutional Trading of iRhythm Technologies
Several hedge funds have recently added to or reduced their stakes in IRTC. Swiss Life Asset Management Ltd acquired a new position in iRhythm Technologies in the 3rd quarter valued at $251,000. CIBC Bancorp USA Inc. bought a new position in iRhythm Technologies during the third quarter worth about $585,000. Castleark Management LLC raised its stake in iRhythm Technologies by 21.2% in the 3rd quarter. Castleark Management LLC now owns 58,393 shares of the company's stock worth $10,043,000 after purchasing an additional 10,213 shares in the last quarter. Williamson Legacy Group LLC acquired a new stake in iRhythm Technologies in the 3rd quarter worth about $1,316,000. Finally, Dark Forest Capital Management LP bought a new stake in iRhythm Technologies in the 3rd quarter valued at about $487,000.
Analyst Upgrades and Downgrades
Several brokerages recently commented on IRTC. Truist Financial increased their price target on iRhythm Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. Canaccord Genuity Group upped their price target on shares of iRhythm Technologies from $193.00 to $212.00 and gave the stock a "buy" rating in a research report on Friday, October 31st. The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $180.00 to $202.00 and gave the company a "neutral" rating in a research report on Friday, October 31st. Morgan Stanley upped their target price on shares of iRhythm Technologies from $195.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Bank of America initiated coverage on shares of iRhythm Technologies in a research note on Wednesday, August 20th. They issued a "buy" rating and a $200.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.
Check Out Our Latest Analysis on IRTC
About iRhythm Technologies
(
Get Free Report)
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.
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