iRhythm Technologies, Inc. (NASDAQ:IRTC) Short Interest Update

iRhythm Technologies, Inc. (NASDAQ:IRTC) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,810,000 shares, a growth of 10.2% from the March 31st total of 2,550,000 shares. Based on an average daily volume of 440,700 shares, the short-interest ratio is currently 6.4 days.

Insider Buying and Selling

In related news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the completion of the transaction, the insider now owns 48,962 shares in the company, valued at approximately $5,971,405.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the completion of the transaction, the insider now owns 48,962 shares in the company, valued at approximately $5,971,405.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Quentin S. Blackford sold 24,701 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the transaction, the chief executive officer now owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. Insiders sold 35,052 shares of company stock worth $4,274,942 in the last quarter. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. Handelsbanken Fonder AB boosted its stake in iRhythm Technologies by 13.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,039 shares of the company’s stock worth $569,000 after purchasing an additional 739 shares during the period. Bank of New York Mellon Corp boosted its stake in iRhythm Technologies by 67.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 572,358 shares of the company’s stock worth $53,950,000 after purchasing an additional 231,077 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in iRhythm Technologies by 11.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,314 shares of the company’s stock worth $595,000 after purchasing an additional 652 shares during the period. Mackenzie Financial Corp boosted its stake in iRhythm Technologies by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock worth $111,425,000 after purchasing an additional 41,052 shares during the period. Finally, Strs Ohio boosted its stake in iRhythm Technologies by 17.0% in the 3rd quarter. Strs Ohio now owns 5,500 shares of the company’s stock worth $518,000 after purchasing an additional 800 shares during the period.

iRhythm Technologies Price Performance

Shares of IRTC stock opened at $108.64 on Tuesday. iRhythm Technologies has a 12-month low of $70.24 and a 12-month high of $134.45. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -26.82 and a beta of 1.30. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $111.16 and a 200-day moving average of $102.64.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. The firm had revenue of $132.51 million during the quarter, compared to analyst estimates of $131.14 million. On average, equities research analysts forecast that iRhythm Technologies will post -3.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

IRTC has been the subject of several recent research reports. Needham & Company LLC upped their target price on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Canaccord Genuity Group upped their target price on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.11.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.