iRhythm Technologies (NASDAQ:IRTC) Stock Price Down 4.3%

iRhythm Technologies, Inc. (NASDAQ:IRTC)’s stock price fell 4.3% on Tuesday . The stock traded as low as $101.62 and last traded at $101.86. 103,179 shares were traded during trading, a decline of 75% from the average session volume of 416,919 shares. The stock had previously closed at $106.45.

Analysts Set New Price Targets

IRTC has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $137.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Wolfe Research upgraded shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.22.

iRhythm Technologies Price Performance

The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. The business’s fifty day moving average is $98.45 and its two-hundred day moving average is $107.02.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.48). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The company had revenue of $131.93 million for the quarter, compared to the consensus estimate of $128.87 million. Research analysts forecast that iRhythm Technologies, Inc. will post -3.22 EPS for the current fiscal year.

Insider Transactions at iRhythm Technologies

In related news, CMO Minang Turakhia sold 1,404 shares of iRhythm Technologies stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total value of $148,332.60. Following the completion of the sale, the chief marketing officer now directly owns 27,255 shares in the company, valued at $2,879,490.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Sumi Shrishrimal sold 1,131 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $100,557.21. Following the completion of the sale, the executive vice president now owns 23,298 shares of the company’s stock, valued at approximately $2,071,425.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Minang Turakhia sold 1,404 shares of iRhythm Technologies stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $105.65, for a total transaction of $148,332.60. Following the transaction, the chief marketing officer now directly owns 27,255 shares in the company, valued at $2,879,490.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,045 shares of company stock valued at $294,234. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of iRhythm Technologies

A number of hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC raised its position in shares of iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after acquiring an additional 426 shares in the last quarter. International Assets Investment Management LLC bought a new position in iRhythm Technologies in the fourth quarter worth about $92,000. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies during the first quarter valued at about $126,000. Quent Capital LLC bought a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $161,000. Finally, Russell Investments Group Ltd. grew its position in shares of iRhythm Technologies by 79,700.0% in 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 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.