iRhythm Technologies, Inc. (NASDAQ:IRTC) Short Interest Update

iRhythm Technologies, Inc. (NASDAQ:IRTC) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,810,000 shares, an increase 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.

iRhythm Technologies Trading Up 2.0 %

Shares of IRTC opened at $111.74 on Thursday. The company has a market cap of $3.48 billion, a P/E ratio of -27.59 and a beta of 1.30. iRhythm Technologies has a twelve month low of $70.24 and a twelve month high of $134.45. The company’s fifty day simple moving average is $111.11 and its 200-day simple moving average is $102.88. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.66). The company had revenue of $132.51 million during the quarter, compared to analysts’ expectations of $131.14 million. iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. As a group, analysts expect that iRhythm Technologies will post -3.14 EPS for the current year.

Insider Transactions at iRhythm Technologies

In related news, EVP Daniel G. Wilson sold 1,261 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the transaction, the executive vice president now owns 32,967 shares in the company, valued at $4,020,655.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Quentin S. Blackford sold 24,701 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the transaction, the chief executive officer now owns 180,015 shares in the company, valued at $21,954,629.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel G. Wilson sold 1,261 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the transaction, the executive vice president now owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The disclosure for this sale can be found here. Insiders sold a total of 35,052 shares of company stock valued at $4,274,942 over the last three months. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in iRhythm Technologies by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 7,208 shares of the company’s stock worth $772,000 after buying an additional 113 shares during the period. Campbell & CO Investment Adviser LLC increased its position in iRhythm Technologies by 1.4% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 10,059 shares of the company’s stock valued at $948,000 after purchasing an additional 137 shares during the period. Handelsbanken Fonder AB increased its position in iRhythm Technologies by 3.3% during the 4th quarter. Handelsbanken Fonder AB now owns 6,239 shares of the company’s stock valued at $668,000 after purchasing an additional 200 shares during the period. Covestor Ltd increased its position in iRhythm Technologies by 285.2% during the 3rd quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in iRhythm Technologies by 110.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock valued at $54,000 after purchasing an additional 301 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on IRTC. Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered their price objective on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group increased their price objective on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research report 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.

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.