Rhumbline Advisers Acquires 2,209 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Rhumbline Advisers increased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 45,681 shares of the company’s stock after purchasing an additional 2,209 shares during the period. Rhumbline Advisers’ holdings in iRhythm Technologies were worth $4,917,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRTC. Headlands Technologies LLC grew its holdings in iRhythm Technologies by 10,650.0% during the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of 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 acquiring an additional 277 shares during the period. SG Americas Securities LLC bought a new stake in shares of iRhythm Technologies during the first quarter worth approximately $126,000. Russell Investments Group Ltd. boosted its holdings in shares of iRhythm Technologies by 79,700.0% during the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after acquiring an additional 1,594 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its holdings in shares of iRhythm Technologies by 7.6% during the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after acquiring an additional 150 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IRTC shares. JPMorgan Chase & Co. reduced their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley reduced their price objective on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Needham & Company LLC reduced their price objective on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Citigroup reduced their price objective on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Truist Financial reiterated a “buy” rating and issued a $117.00 price target (down from $134.00) on shares of iRhythm Technologies in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average target price of $118.67.

iRhythm Technologies Stock Up 2.5 %

Shares of IRTC opened at $76.61 on Monday. iRhythm Technologies, Inc. has a one year low of $60.88 and a one year high of $124.11. The company has a market cap of $2.39 billion, a P/E ratio of -18.11 and a beta of 1.22. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The firm has a 50 day simple moving average of $79.52 and a two-hundred day simple moving average of $95.17.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The business had revenue of $148.05 million during the quarter, compared to the consensus estimate of $146.15 million. During the same period in the previous year, the business earned ($0.61) earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Research analysts forecast that iRhythm Technologies, Inc. will post -2.66 EPS for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares in the company, valued at $1,718,265.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Chad Patterson sold 3,012 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the completion of the transaction, the insider now directly owns 37,133 shares in the company, valued at $2,772,349.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice Bobzien sold 1,372 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the transaction, the chief financial officer now owns 24,428 shares of the company’s stock, valued at $1,718,265.52. The disclosure for this sale can be found here. Insiders sold a total of 6,476 shares of company stock worth $521,081 over the last three months. Corporate insiders own 0.68% of the company’s stock.

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.