Insider Buying: iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Buys $500,866.24 in Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar acquired 6,664 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

iRhythm Technologies Stock Down 0.8 %

Shares of IRTC opened at $88.76 on Friday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company has a 50-day simple moving average of $70.27 and a 200-day simple moving average of $84.49. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11. The firm has a market capitalization of $2.78 billion, a P/E ratio of -18.26 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the company earned ($0.89) EPS. On average, equities research analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IRTC. Needham & Company LLC decreased their price target on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Canaccord Genuity Group upped their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Truist Financial lifted their price target on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird decreased their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Morgan Stanley dropped their target price on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently bought and sold shares of IRTC. Headlands Technologies LLC boosted its position in shares of iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after acquiring an additional 426 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after purchasing an additional 277 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $126,000. nVerses Capital LLC raised its holdings in shares of iRhythm Technologies by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,600 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after buying 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.