iRhythm Technologies, Inc. (NASDAQ:IRTC) CTO Sells $248,058.68 in Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) CTO Mark J. Day sold 2,116 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $117.23, for a total value of $248,058.68. Following the completion of the sale, the chief technology officer now owns 54,815 shares of the company’s stock, valued at approximately $6,425,962.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

iRhythm Technologies Stock Down 3.1 %

IRTC stock opened at $115.31 on Friday. iRhythm Technologies, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $169.54. The business’s 50-day moving average is $105.18 and its two-hundred day moving average is $115.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.07 and a current ratio of 3.24. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -29.64 and a beta of 1.41.

iRhythm Technologies (NASDAQ:IRTC – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.04). iRhythm Technologies had a negative return on equity of 35.85% and a negative net margin of 28.27%. The company had revenue of $112.62 million during the quarter, compared to the consensus estimate of $110.62 million. As a group, analysts forecast that iRhythm Technologies, Inc. will post -2.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IRTC. Citigroup reduced their price target on iRhythm Technologies from $144.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. Canaccord Genuity Group increased their target price on iRhythm Technologies from $135.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Needham & Company LLC cut their target price on iRhythm Technologies from $140.00 to $133.00 and set a “buy” rating on the stock in a research note on Friday, February 24th. Morgan Stanley increased their target price on iRhythm Technologies from $128.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. Finally, StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.36.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently made changes to their positions in the business. Sands Capital Management LLC grew its position in shares of iRhythm Technologies by 0.9% during the second quarter. Sands Capital Management LLC now owns 3,051,447 shares of the company’s stock worth $329,648,000 after purchasing an additional 26,689 shares in the last quarter. Vanguard Group Inc. grew its position in shares of iRhythm Technologies by 1.1% during the third quarter. Vanguard Group Inc. now owns 2,779,425 shares of the company’s stock worth $348,205,000 after purchasing an additional 30,761 shares in the last quarter. BlackRock Inc. grew its position in shares of iRhythm Technologies by 3.5% during the third quarter. BlackRock Inc. now owns 2,254,791 shares of the company’s stock worth $282,481,000 after purchasing an additional 76,573 shares in the last quarter. Capital Research Global Investors grew its position in shares of iRhythm Technologies by 60.9% during the first quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock worth $222,237,000 after purchasing an additional 534,300 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in iRhythm Technologies by 230.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,395,746 shares of the company’s stock valued at $130,740,000 after buying an additional 973,450 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

About iRhythm Technologies

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iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, which continuously records and stores ECG data from every patient heartbeat for up to 14 consecutive days, and Zio AT, which provides ECG data but also provides physicians with actionable notifications during the wear period.