Key Points
- iRhythm Technologies director Abhijit Talwalkar bought 5,312 shares on May 11 at an average price of $10.71, spending about $56,892. The purchase lifted his direct holdings to 25,611 shares, a 26.17% increase, and was made under a pre-arranged Rule 10b5-1 plan.
- The stock rose 1.3% and recently traded at $118.31, with a market cap of $3.89 billion. Shares have ranged from a 52-week low of $112.31 to a high of $212.00.
- Recent earnings topped expectations, with Q1 EPS of -$0.35 versus estimates of -$0.56 and revenue of $199.39 million, up 25.6% year over year. Analysts currently view the stock as a Moderate Buy with an average target price of $193.38.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) Director Abhijit Talwalkar bought 5,312 shares of the firm's stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $10.71 per share, with a total value of $56,891.52. Following the completion of the transaction, the director directly owned 25,611 shares of the company's stock, valued at approximately $274,293.81. The trade was a 26.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
iRhythm Technologies Stock Up 1.3%
Shares of NASDAQ IRTC opened at $118.31 on Wednesday. iRhythm Technologies has a one year low of $112.31 and a one year high of $212.00. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98. The business's fifty day moving average price is $120.48 and its 200-day moving average price is $151.75. The stock has a market capitalization of $3.89 billion, a PE ratio of -137.57 and a beta of 1.33.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The company had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. During the same quarter in the prior year, the company earned ($0.97) EPS. The firm's quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts anticipate that iRhythm Technologies will post 0.13 EPS for the current year.
Wall Street Analysts Forecast Growth
IRTC has been the topic of a number of recent research reports. Truist Financial dropped their price target on shares of iRhythm Technologies from $200.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Citigroup boosted their target price on shares of iRhythm Technologies from $155.00 to $157.00 and gave the company a "buy" rating in a report on Monday, May 4th. Wall Street Zen upgraded iRhythm Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, May 3rd. Freedom Capital raised shares of iRhythm Technologies to a "strong-buy" rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of iRhythm Technologies in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $193.38.
Get Our Latest Stock Report on iRhythm Technologies
Hedge Funds Weigh In On iRhythm Technologies
Several hedge funds and other institutional investors have recently modified their holdings of IRTC. Tudor Investment Corp ET AL purchased a new stake in iRhythm Technologies in the third quarter worth about $3,439,800,000. Vanguard Group Inc. boosted its position in shares of iRhythm Technologies by 2.2% during the fourth 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 purchased a new stake in iRhythm Technologies in the fourth quarter worth $209,732,000. Geode Capital Management LLC raised its holdings in iRhythm Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company's stock worth $152,337,000 after purchasing an additional 68,301 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of iRhythm Technologies by 45.6% in the 4th 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 during the period.
iRhythm Technologies Company Profile
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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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