Sei Investments Co. Purchases 44,662 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Sei Investments Co. increased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 19.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 280,023 shares of the company’s stock after buying an additional 44,662 shares during the period. Sei Investments Co. owned 0.90% of iRhythm Technologies worth $30,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IRTC. Principal Financial Group Inc. raised its position in shares of iRhythm Technologies by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 7,208 shares of the company’s stock worth $772,000 after acquiring an additional 113 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in iRhythm Technologies by 7.6% in the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after purchasing an additional 150 shares in the last quarter. Ascent Group LLC lifted its stake in iRhythm Technologies by 4.6% in the first quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock valued at $462,000 after buying an additional 175 shares during the period. Swiss National Bank boosted its holdings in shares of iRhythm Technologies by 0.3% during the 1st quarter. Swiss National Bank now owns 60,500 shares of the company’s stock worth $7,018,000 after buying an additional 200 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after buying an additional 277 shares during the period.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, 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 value of $96,506.48. Following the completion of the transaction, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the sale, the executive vice president now owns 10,360 shares of the company’s stock, valued at approximately $773,477.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the transaction, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at $1,718,265.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,476 shares of company stock valued at $521,081. 0.68% of the stock is owned by insiders.

iRhythm Technologies Price Performance

IRTC opened at $70.05 on Tuesday. The firm’s fifty day moving average price is $76.54 and its two-hundred day moving average price is $93.44. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -16.56 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. iRhythm Technologies, Inc. has a 1 year low of $60.88 and a 1 year high of $124.11.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IRTC. Morgan Stanley cut their target price on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Truist Financial reaffirmed a “buy” rating and set a $117.00 price target (down from $134.00) on shares of iRhythm Technologies in a research note on Friday, August 2nd. 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 research note on Friday, August 2nd. Finally, Oppenheimer decreased their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.67.

iRhythm Technologies 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.