iRhythm Technologies (NASDAQ:IRTC) Director Abhijit Talwalkar Acquires 5,312 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC) Director Abhijit Talwalkar acquired 5,312 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $10.71 per share, with a total value of $56,891.52. Following the transaction, the director directly owned 25,611 shares of the company’s stock, valued at $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $118.31 on Wednesday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -137.57 and a beta of 1.33. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. iRhythm Technologies has a twelve month low of $112.31 and a twelve month high of $212.00. The company’s fifty day moving average is $120.48 and its 200 day moving average is $151.75.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.21. The company had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.97) EPS. Sell-side analysts forecast that iRhythm Technologies will post 0.13 EPS for the current year.

Institutional Investors Weigh In On iRhythm Technologies

A number of hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in iRhythm Technologies during the third quarter worth about $30,000. Measured Wealth Private Client Group LLC bought a new stake in iRhythm Technologies in the third quarter worth about $30,000. GAMMA Investing LLC boosted its stake in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after acquiring an additional 60 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after acquiring an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of iRhythm Technologies during the 3rd quarter valued at approximately $34,000.

Analyst Ratings Changes

IRTC has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $198.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Wells Fargo & Company dropped their price target on shares of iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. Finally, Robert W. Baird decreased their price objective on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target of $193.38.

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.