iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Ascent Group LLC

Ascent Group LLC grew its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,310 shares of the company’s stock after buying an additional 1,330 shares during the quarter. Ascent Group LLC’s holdings in iRhythm Technologies were worth $572,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in iRhythm Technologies by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 7,208 shares of the company’s stock worth $772,000 after purchasing an additional 113 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in 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 purchasing an additional 150 shares during the last quarter. Swiss National Bank raised its holdings in iRhythm Technologies by 0.3% during the first quarter. Swiss National Bank now owns 60,500 shares of the company’s stock worth $7,018,000 after purchasing an additional 200 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in 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 purchasing an additional 277 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in iRhythm Technologies by 3.4% during the second quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after purchasing an additional 287 shares during the last quarter.

Analyst Upgrades and Downgrades

IRTC has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday. Needham & Company LLC dropped their price target on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised 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. Finally, JPMorgan Chase & Co. dropped their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.33.

Insider Activity at iRhythm Technologies

In related news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies 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 transaction, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Chad Patterson sold 3,012 shares of iRhythm Technologies stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $224,875.92. Following the transaction, the insider now owns 37,133 shares in the company, valued at $2,772,349.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies 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 completion of the transaction, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,072 shares of company stock worth $372,748. 0.68% of the stock is owned by insiders.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $74.24 on Tuesday. The company has a market cap of $2.31 billion, a P/E ratio of -17.55 and a beta of 1.22. The company has a quick ratio of 6.76, a current ratio of 6.92 and a debt-to-equity ratio of 6.50. iRhythm Technologies, Inc. has a 52 week low of $60.88 and a 52 week high of $124.11. The business has a fifty day simple moving average of $73.72 and a 200-day simple moving average of $92.22.

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

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.