iRhythm Technologies (NASDAQ:IRTC) Trading 6.8% Higher

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) was up 6.8% on Thursday . The company traded as high as $73.28 and last traded at $73.20. Approximately 99,912 shares traded hands during trading, a decline of 77% from the average daily volume of 429,186 shares. The stock had previously closed at $68.56.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IRTC shares. Needham & Company LLC reduced their price target on shares of iRhythm Technologies from $138.00 to $119.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Oppenheimer reduced their price target on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $133.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Finally, Morgan Stanley reduced their price target on shares of iRhythm Technologies from $135.00 to $130.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $118.67.

iRhythm Technologies Stock Up 5.6 %

The firm has a market capitalization of $2.25 billion, a P/E ratio of -17.12 and a beta of 1.25. The firm's 50-day moving average is $86.97 and its 200 day moving average is $98.89. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.28. The business had revenue of $148.05 million for the quarter, compared to analysts' expectations of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The firm's revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.61) EPS. As a group, equities research analysts predict that iRhythm Technologies, Inc. will post -3.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now directly owns 24,428 shares of the company's stock, valued at approximately $1,718,265.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brice Bobzien sold 1,372 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the transaction, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chad Patterson sold 3,012 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the completion of the transaction, the insider now owns 37,133 shares in the company, valued at approximately $2,772,349.78. The disclosure for this sale can be found here. Insiders have sold 8,117 shares of company stock valued at $666,982 in the last three months. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of iRhythm Technologies

A number of institutional investors have recently bought and sold shares of IRTC. Headlands Technologies LLC boosted its holdings in iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company's stock valued at $50,000 after purchasing an additional 426 shares during the period. Nisa Investment Advisors LLC boosted its holdings in iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock valued at $67,000 after purchasing an additional 277 shares during the period. International Assets Investment Management LLC bought a new stake in iRhythm Technologies in the 4th quarter valued at about $92,000. SG Americas Securities LLC bought a new stake in iRhythm Technologies in the 1st quarter valued at about $126,000. Finally, Russell Investments Group Ltd. boosted its holdings in iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company's stock valued at $185,000 after purchasing an additional 1,594 shares during the period.

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.