iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report) was the target 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 presently 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 dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $928,725.40. Following the completion of the transaction, the insider now owns 48,962 shares of the company’s stock, valued at approximately $5,971,405.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $928,725.40. Following the transaction, the insider now directly owns 48,962 shares in the company, valued at $5,971,405.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel G. Wilson sold 1,261 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the transaction, the executive vice president now owns 32,967 shares in the company, valued at $4,020,655.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,052 shares of company stock valued at $4,274,942. Insiders own 0.68% of the company’s stock.
Hedge Funds Weigh In On iRhythm Technologies
A number of large investors have recently added to or reduced their stakes in IRTC. Handelsbanken Fonder AB increased its holdings in iRhythm Technologies by 13.9% during 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $53,950,000 after acquiring an additional 231,077 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of iRhythm Technologies by 11.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,314 shares of the company’s stock valued at $595,000 after acquiring an additional 652 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of iRhythm Technologies by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock valued at $111,425,000 after acquiring an additional 41,052 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of iRhythm Technologies by 17.0% in the 3rd quarter. Strs Ohio now owns 5,500 shares of the company’s stock valued at $518,000 after acquiring an additional 800 shares in the last quarter.
iRhythm Technologies Price Performance
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). The firm had revenue of $132.51 million during the quarter, compared to the consensus estimate of $131.14 million. iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. On average, research analysts expect that iRhythm Technologies will post -3.14 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on IRTC shares. Canaccord Genuity Group upped their price objective on iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, Needham & Company LLC increased their price target on iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.11.
Read Our Latest Analysis on IRTC
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.
See Also
- Five stocks we like better than iRhythm Technologies
- What is the Australian Securities Exchange (ASX)
- AMD is Down 35%. Now is the Time to Buy the Dip
- Why is the Ex-Dividend Date Significant to Investors?
- Amazon Stands Tall: New Highs Are in Sight
- Why Invest in High-Yield Dividend Stocks?
- Chesapeake Energy Stock is The Energy Play, Earnings Confirm
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.