iRhythm Technologies (NASDAQ:IRTC) Trading 6.5% Higher

iRhythm Technologies, Inc. (NASDAQ:IRTCGet Free Report) shares rose 6.5% during trading on Thursday . The company traded as high as $96.70 and last traded at $96.35. Approximately 213,498 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 418,465 shares. The stock had previously closed at $90.51.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Canaccord Genuity Group cut their price target on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. reduced their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.00.

View Our Latest Stock Report on IRTC

iRhythm Technologies Stock Performance

The firm has a 50-day moving average of $102.73 and a 200 day moving average of $105.58. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13.

iRhythm Technologies (NASDAQ:IRTCGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.48). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The company had revenue of $131.93 million for the quarter, compared to the consensus estimate of $128.87 million. As a group, equities analysts anticipate that iRhythm Technologies, Inc. will post -3.22 EPS for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, EVP Sumi Shrishrimal sold 1,131 shares of iRhythm Technologies stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $100,557.21. Following the completion of the sale, the executive vice president now owns 23,298 shares of the company’s stock, valued at approximately $2,071,425.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Marc W. Rosenbaum sold 510 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $45,344.10. Following the completion of the sale, the chief accounting officer now owns 8,174 shares of the company’s stock, valued at approximately $726,750.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sumi Shrishrimal sold 1,131 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $100,557.21. Following the completion of the transaction, the executive vice president now directly owns 23,298 shares in the company, valued at approximately $2,071,425.18. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd increased its holdings in iRhythm Technologies by 285.2% in the 3rd quarter. Covestor Ltd now owns 312 shares of the company’s stock worth $29,000 after acquiring an additional 231 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of iRhythm Technologies during the 4th quarter valued at $92,000. SG Americas Securities LLC purchased a new position in shares of iRhythm Technologies during the 1st quarter valued at $126,000. Finally, Quent Capital LLC bought a new position in iRhythm Technologies in the 4th quarter worth $161,000.

About iRhythm Technologies

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.