Minang Turakhia Sells 1,404 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) Stock

iRhythm Technologies, Inc. (NASDAQ:IRTC) CMO Minang Turakhia sold 1,404 shares of the company’s 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 owns 27,255 shares of the company’s stock, valued at approximately $2,879,490.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

iRhythm Technologies Trading Down 1.9 %

NASDAQ IRTC opened at $96.76 on Friday. The business has a 50 day simple moving average of $98.05 and a two-hundred day simple moving average of $106.95. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10. iRhythm Technologies, Inc. has a 1-year low of $70.24 and a 1-year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last released 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). The firm had revenue of $131.93 million for the quarter, compared to analysts’ expectations of $128.87 million. iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. On average, sell-side analysts anticipate that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IRTC shares. Wolfe Research upgraded iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research report on Thursday, June 20th. Needham & Company LLC increased their target price on iRhythm Technologies from $137.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group cut their target price on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.22.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors have recently modified their holdings of the stock. Shaolin Capital Management LLC bought a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $3,468,000. Comerica Bank lifted its stake in shares of iRhythm Technologies by 5,033.5% in the 1st quarter. Comerica Bank now owns 38,963 shares of the company’s stock valued at $4,520,000 after purchasing an additional 38,204 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of iRhythm Technologies by 4.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 94,653 shares of the company’s stock valued at $10,980,000 after purchasing an additional 4,338 shares during the last quarter. Steelhead Partners LLC bought a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $3,851,000. Finally, Ascent Group LLC lifted its stake in shares of iRhythm Technologies by 4.6% in the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock valued at $462,000 after purchasing an additional 175 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.