iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar Buys 6,664 Shares of Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the purchase, the director now owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

iRhythm Technologies Price Performance

NASDAQ:IRTC opened at $86.68 on Wednesday. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11. The stock has a fifty day moving average of $69.85 and a 200 day moving average of $84.46. 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 firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -17.84 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.89) EPS. On average, research analysts expect that iRhythm Technologies, Inc. will post -3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRTC. JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Oppenheimer lowered 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. Canaccord Genuity Group raised their price objective on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Truist Financial boosted their target price on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley cut their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC lifted its holdings 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 worth $50,000 after acquiring an additional 426 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of iRhythm Technologies in the 1st quarter worth about $126,000. nVerses Capital LLC increased its position in shares of iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings 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 valued at $185,000 after buying an additional 1,594 shares in the last quarter.

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.