iRhythm Technologies, Inc. (NASDAQ:IRTC) Short Interest Update

iRhythm Technologies, Inc. (NASDAQ:IRTC) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,810,000 shares, a growth of 10.2% from the March 31st total of 2,550,000 shares. Based on an average daily volume of 440,700 shares, the short-interest ratio is presently 6.4 days.

Insider Buying and Selling

In related news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $928,725.40. Following the completion of the transaction, the insider now owns 48,962 shares of the company’s stock, valued at approximately $5,971,405.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $928,725.40. Following the transaction, the insider now directly owns 48,962 shares in the company, valued at $5,971,405.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel G. Wilson sold 1,261 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the transaction, the executive vice president now owns 32,967 shares in the company, valued at $4,020,655.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,052 shares of company stock valued at $4,274,942. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

A number of large investors have recently added to or reduced their stakes in IRTC. Handelsbanken Fonder AB increased its holdings in iRhythm Technologies by 13.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,039 shares of the company’s stock worth $569,000 after purchasing an additional 739 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of iRhythm Technologies by 67.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 572,358 shares of the company’s stock valued at $53,950,000 after acquiring an additional 231,077 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of iRhythm Technologies by 11.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,314 shares of the company’s stock valued at $595,000 after acquiring an additional 652 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of iRhythm Technologies by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock valued at $111,425,000 after acquiring an additional 41,052 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of iRhythm Technologies by 17.0% in the 3rd quarter. Strs Ohio now owns 5,500 shares of the company’s stock valued at $518,000 after acquiring an additional 800 shares in the last quarter.

iRhythm Technologies Price Performance

IRTC opened at $111.74 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17. iRhythm Technologies has a 12 month low of $70.24 and a 12 month high of $134.45. The company has a fifty day simple moving average of $111.11 and a 200 day simple moving average of $102.88. The stock has a market cap of $3.48 billion, a P/E ratio of -27.59 and a beta of 1.30.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). The firm had revenue of $132.51 million during the quarter, compared to the consensus estimate of $131.14 million. iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. On average, research analysts expect that iRhythm Technologies will post -3.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IRTC shares. Canaccord Genuity Group upped their price objective on iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, Needham & Company LLC increased their price target on iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.11.

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.