Stifel Financial Corp Sells 1,052 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Stifel Financial Corp cut its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 11.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the company’s stock after selling 1,052 shares during the quarter. Stifel Financial Corp’s holdings in iRhythm Technologies were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System increased its position in shares of iRhythm Technologies by 3.4% in the second quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock valued at $938,000 after acquiring an additional 287 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of iRhythm Technologies by 6.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,909 shares of the company’s stock worth $851,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in iRhythm Technologies by 22.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock valued at $231,000 after purchasing an additional 567 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in iRhythm Technologies by 27.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock valued at $261,000 after purchasing an additional 754 shares during the last quarter. Finally, Quarry LP purchased a new stake in iRhythm Technologies in the 3rd quarter worth approximately $59,000.

Insider Transactions at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar bought 6,664 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired 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 in the company, valued at approximately $1,423,605.56. The trade was a 54.28 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by insiders.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $89.99 on Friday. 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 company has a 50 day simple moving average of $82.68 and a two-hundred day simple moving average of $81.20. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -18.52 and a beta of 1.26.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The company had revenue of $147.54 million for the quarter, compared to the consensus estimate of $146.69 million. During the same period last year, the business earned ($0.89) EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Analysts expect that iRhythm Technologies, Inc. will post -3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IRTC has been the topic of several research analyst reports. Truist Financial boosted their target price on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective on the stock. Needham & Company LLC cut their target price on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company reiterated an “equal weight” rating and set a $86.00 price target on shares of iRhythm Technologies in a research report on Tuesday, December 3rd. Finally, Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $109.27.

iRhythm Technologies Company Profile

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.