Key Points
- Director Abhijit Talwalkar sold 5,312 shares on Feb. 23 at an average price of $145.70 for about $773,958, reducing his holding by 20.74% to 20,299 shares (≈$2.96M).
- iRhythm beat expectations last quarter with EPS $0.29 vs. $0.02 expected and revenue of $208.89M (up 27.1% YoY), but the company still posted a negative net margin (-5.96%) and negative ROE (-28.15%).
- Analysts have an average rating of "Moderate Buy" with an average price target of $211.62, though individual views range from Strong Buy to Sell.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) Director Abhijit Talwalkar sold 5,312 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $145.70, for a total transaction of $773,958.40. Following the completion of the transaction, the director directly owned 20,299 shares in the company, valued at approximately $2,957,564.30. This represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
iRhythm Technologies Price Performance
Shares of NASDAQ:IRTC opened at $137.10 on Wednesday. The firm has a 50 day moving average of $163.48 and a 200-day moving average of $171.19. iRhythm Technologies has a 12 month low of $92.52 and a 12 month high of $212.00. The company has a current ratio of 4.63, a quick ratio of 4.48 and a debt-to-equity ratio of 4.25. The stock has a market capitalization of $4.43 billion, a PE ratio of -97.93 and a beta of 1.06.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $208.89 million for the quarter, compared to analysts' expectations of $202.61 million. During the same period last year, the firm posted ($0.04) earnings per share. The firm's quarterly revenue was up 27.1% compared to the same quarter last year. On average, equities research analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.
Institutional Investors Weigh In On iRhythm Technologies
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in shares of iRhythm Technologies in the second quarter worth $3,578,000. Federated Hermes Inc. lifted its holdings in iRhythm Technologies by 45.4% during the 3rd quarter. Federated Hermes Inc. now owns 70,401 shares of the company's stock worth $12,108,000 after buying an additional 21,977 shares during the period. Osaic Holdings Inc. grew its position in shares of iRhythm Technologies by 507.3% in the 2nd quarter. Osaic Holdings Inc. now owns 9,292 shares of the company's stock valued at $1,431,000 after buying an additional 7,762 shares during the last quarter. Jump Financial LLC bought a new stake in shares of iRhythm Technologies in the 2nd quarter valued at about $9,668,000. Finally, Walleye Capital LLC acquired a new stake in shares of iRhythm Technologies in the second quarter valued at about $11,366,000.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Citigroup raised their price objective on iRhythm Technologies from $205.00 to $242.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of iRhythm Technologies in a report on Thursday, January 22nd. Wells Fargo & Company decreased their price target on shares of iRhythm Technologies from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, February 20th. Morgan Stanley reiterated an "overweight" rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, The Goldman Sachs Group raised their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.62.
View Our Latest Stock Analysis on iRhythm Technologies
iRhythm Technologies Company Profile
(
Get Free Report)
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.
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