Insider Selling: iRhythm Technologies (NASDAQ:IRTC) Insider Sells 4,357 Shares of Stock

by · The Cerbat Gem

iRhythm Technologies (NASDAQ:IRTC – Get Free Report) insider Patrick Michael Murphy sold 4,357 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $128.44, for a total value of $559,613.08. Following the completion of the sale, the insider directly owned 63,203 shares of the company’s stock, valued at approximately $8,117,793.32. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Patrick Michael Murphy also recently made the following trade(s):

  • On Wednesday, February 25th, Patrick Michael Murphy sold 7,805 shares of iRhythm Technologies stock. The stock was sold at an average price of $135.42, for a total transaction of $1,056,953.10.

iRhythm Technologies Trading Down 2.0%

NASDAQ:IRTC traded down $2.61 during trading hours on Tuesday, hitting $125.85. The stock had a trading volume of 593,038 shares, compared to its average volume of 735,152. The business’s 50 day moving average is $159.40 and its 200-day moving average is $170.14. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -89.89 and a beta of 1.10. 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 announced its quarterly earnings results on Thursday, February 19th. The company reported $0.29 earnings per share 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 company 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 business’s quarterly revenue was up 27.1% compared to the same quarter last year. Sell-side analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IRTC shares. Canaccord Genuity Group dropped their price target on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a report on Monday, January 12th. Freedom Capital raised shares of iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $200.00 price objective (down from $215.00) on shares of iRhythm Technologies in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.62.

Read Our Latest Research Report on IRTC

Institutional Trading of iRhythm Technologies

Institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC acquired a new position in iRhythm Technologies during the third quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in iRhythm Technologies during the 3rd quarter worth about $30,000. GAMMA Investing LLC boosted its stake in shares of iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after buying an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of iRhythm Technologies in the 3rd quarter valued at about $34,000.

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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