Insider Buying: iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Buys 6,664 Shares of Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) Director Abhijit Y. Talwalkar acquired 6,664 shares of iRhythm Technologies stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $75.16 per share, with a total value of $500,866.24. Following the completion of the acquisition, the director now owns 18,941 shares of the company's stock, valued at $1,423,605.56. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

iRhythm Technologies Trading Up 6.4 %

IRTC stock traded up $5.24 during trading on Tuesday, reaching $86.68. 1,227,262 shares of the stock traded hands, compared to its average volume of 475,545. The business's 50 day moving average price is $69.85 and its 200-day moving average price is $84.46. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm has a market capitalization of $2.71 billion, a PE ratio of -17.84 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.89) EPS. As a group, sell-side analysts forecast that iRhythm Technologies, Inc. will post -3.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IRTC. Headlands Technologies LLC lifted 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 acquiring an additional 426 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock worth $67,000 after acquiring an additional 277 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of iRhythm Technologies in the first quarter worth about $126,000. nVerses Capital LLC lifted its stake in shares of iRhythm Technologies by 400.0% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $148,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company's stock worth $185,000 after acquiring an additional 1,594 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on IRTC shares. Canaccord Genuity Group raised their price target on iRhythm Technologies from $122.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Citigroup dropped their price target on iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Morgan Stanley dropped their price target on iRhythm Technologies from $135.00 to $130.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Finally, Needham & Company LLC dropped their price target on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $108.50.

iRhythm Technologies Company Profile

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.