iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Merz Cathleen Noel Bairey Sells 500 Shares

iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) Director Merz Cathleen Noel Bairey sold 500 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $111.76, for a total transaction of $55,880.00. Following the sale, the director now owns 4,977 shares in the company, valued at $556,229.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of IRTC stock traded down $8.90 during mid-day trading on Thursday, reaching $106.36. The company’s stock had a trading volume of 15,387 shares, compared to its average volume of 381,052. iRhythm Technologies, Inc. has a 1-year low of $41.66 and a 1-year high of $169.54. The company has a market cap of $3.17 billion, a P/E ratio of -24.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.43 and a current ratio of 4.63. The firm’s 50-day moving average is $134.82 and its two-hundred day moving average is $127.69.

iRhythm Technologies (NASDAQ:IRTC – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.26. iRhythm Technologies had a negative net margin of 36.43% and a negative return on equity of 34.55%. The company had revenue of $92.40 million during the quarter, compared to analysts’ expectations of $86.76 million. During the same quarter in the prior year, the company posted ($0.95) EPS. The business’s revenue was up 24.4% on a year-over-year basis. Sell-side analysts anticipate that iRhythm Technologies, Inc. will post -3.28 EPS for the current year.

IRTC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of iRhythm Technologies from $156.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 4th. StockNews.com initiated coverage on shares of iRhythm Technologies in a report on Thursday, March 31st. They set a “sell” rating on the stock. Morgan Stanley cut their price target on shares of iRhythm Technologies from $167.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. Truist Financial lowered their price objective on shares of iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup downgraded shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $155.00 in a research report on Thursday, June 9th. Two equities research analysts have 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $159.67.

Several hedge funds and other institutional investors have recently modified their holdings of IRTC. Vanguard Group Inc. raised its position in shares of iRhythm Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,714,221 shares of the company’s stock valued at $427,409,000 after acquiring an additional 33,521 shares during the period. BlackRock Inc. raised its holdings in iRhythm Technologies by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,093,147 shares of the company’s stock worth $329,607,000 after buying an additional 8,440 shares during the period. JPMorgan Chase & Co. raised its holdings in iRhythm Technologies by 16.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,079,429 shares of the company’s stock worth $244,728,000 after buying an additional 287,654 shares during the period. Capital Research Global Investors raised its holdings in iRhythm Technologies by 60.9% during the 1st quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock worth $222,237,000 after buying an additional 534,300 shares during the period. Finally, Wellington Management Group LLP raised its holdings in iRhythm Technologies by 1.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,114,699 shares of the company’s stock worth $65,277,000 after buying an additional 20,364 shares during the period. 97.92% of the stock is currently owned by institutional investors.

iRhythm Technologies Company Profile (Get Rating)

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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