Key Points
- EVP Mervin Smith sold 732 shares on Feb. 24 at an average price of $140.91 for proceeds of $103,146.12, reducing his stake to 15,106 shares (a 4.62% decrease) as disclosed in an SEC filing.
- Quarterly results beat expectations—$0.29 EPS vs. $0.02 expected and $208.89M revenue (up 27.1% YoY)—but the company still reported a negative net margin (−5.96%) and negative ROE (−28.15%).
- IRTC traded near $138.42 with a 52‑week range of $92.52–$212.00 and a $4.47B market cap, while analysts hold a consensus rating of "Moderate Buy" and a $211.62 average price target.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) CAO Marc Wade Rosenbaum sold 280 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $140.91, for a total transaction of $39,454.80. Following the completion of the transaction, the chief accounting officer directly owned 10,601 shares of the company's stock, valued at approximately $1,493,786.91. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
iRhythm Technologies Price Performance
NASDAQ IRTC traded up $3.00 during trading on Thursday, reaching $138.90. The company's stock had a trading volume of 121,365 shares, compared to its average volume of 718,211. 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 firm has a fifty day moving average of $162.85 and a 200 day moving average of $170.94. The stock has a market capitalization of $4.49 billion, a PE ratio of -98.70 and a beta of 1.06. iRhythm Technologies has a one year low of $92.52 and a one year high of $212.00.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $202.61 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The business's quarterly revenue was up 27.1% compared to the same quarter last year. Analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on IRTC shares. Wells Fargo & Company lowered their target price on iRhythm Technologies from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. dropped their price target on iRhythm Technologies from $240.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, February 20th. Freedom Capital upgraded iRhythm Technologies to a "strong-buy" rating in a research note on Thursday, January 15th. Canaccord Genuity Group lowered their target price on iRhythm Technologies from $212.00 to $198.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Finally, Citigroup increased their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $211.62.
View Our Latest Stock Analysis on IRTC
Hedge Funds Weigh In On iRhythm Technologies
A number of large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL acquired a new stake in iRhythm Technologies in the third quarter valued at approximately $3,439,800,000. Vanguard Group Inc. increased its stake in shares of iRhythm Technologies by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company's stock valued at $587,418,000 after purchasing an additional 70,420 shares in the last quarter. RTW Investments LP acquired a new position in iRhythm Technologies during the fourth quarter worth $209,732,000. Geode Capital Management LLC lifted its position in shares of iRhythm Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company's stock valued at $152,337,000 after acquiring an additional 68,301 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of iRhythm Technologies by 45.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company's stock worth $147,251,000 after buying an additional 259,800 shares in the last quarter.
About iRhythm Technologies
(
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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