Abhijit Y. Talwalkar Buys 6,664 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar bought 6,664 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the purchase, the director now directly owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

iRhythm Technologies Trading Up 3.3 %

NASDAQ:IRTC opened at $89.50 on Thursday. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm’s fifty day simple moving average is $70.27 and its 200 day simple moving average is $84.49.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same quarter last year, the company posted ($0.89) EPS. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts predict that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Institutional Trading of iRhythm Technologies

A number of large investors have recently made changes to their positions in IRTC. Mackenzie Financial Corp raised its position in iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock worth $153,745,000 after acquiring an additional 80,091 shares during the period. Blair William & Co. IL boosted its stake in iRhythm Technologies by 3.5% during the first quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after buying an additional 27,842 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of iRhythm Technologies by 104.1% in the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after acquiring an additional 293,710 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of iRhythm Technologies by 12.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after purchasing an additional 58,668 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of iRhythm Technologies by 9.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company’s stock worth $38,603,000 after purchasing an additional 44,387 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Canaccord Genuity Group upped their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Needham & Company LLC reduced their price target on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Robert W. Baird cut their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Citigroup reduced their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.50.

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.