iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 25.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,111 shares of the company’s stock after selling 1,403 shares during the period. ProShare Advisors LLC’s holdings in iRhythm Technologies were worth $443,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in iRhythm Technologies by 74.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 177,094 shares of the company’s stock valued at $18,956,000 after purchasing an additional 75,811 shares during the period. Stephens Investment Management Group LLC grew its stake in iRhythm Technologies by 17.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 359,225 shares of the company’s stock valued at $38,451,000 after acquiring an additional 53,219 shares during the period. Capital Research Global Investors increased its holdings in iRhythm Technologies by 5.1% in the 4th quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock worth $267,132,000 after acquiring an additional 121,709 shares in the last quarter. Homestead Advisers Corp raised its position in iRhythm Technologies by 103.2% during the fourth quarter. Homestead Advisers Corp now owns 12,800 shares of the company’s stock worth $1,370,000 after acquiring an additional 6,500 shares during the period. Finally, First Light Asset Management LLC lifted its holdings in iRhythm Technologies by 72.7% during the fourth quarter. First Light Asset Management LLC now owns 152,063 shares of the company’s stock valued at $16,277,000 after purchasing an additional 64,024 shares in the last quarter.

Insider Buying and Selling at iRhythm Technologies

In other news, EVP Mervin Smith sold 688 shares of the business’s 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 directly 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 through this hyperlink. In other news, EVP Mervin Smith sold 688 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 $51,366.08. Following the completion of the sale, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at $773,477.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Patterson sold 3,012 shares of the stock in a transaction dated 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 directly owns 37,133 shares in the company, valued at approximately $2,772,349.78. The disclosure for this sale can be found here. Insiders have sold 5,072 shares of company stock valued at $372,748 over the last 90 days. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Needham & Company LLC lowered their price target on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Wolfe Research raised iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Thursday, June 20th. Citigroup lowered their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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 equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

iRhythm Technologies Stock Down 3.6 %

Shares of NASDAQ IRTC opened at $71.58 on Wednesday. iRhythm Technologies, Inc. has a 1 year low of $60.88 and a 1 year high of $124.11. The company has a market capitalization of $2.23 billion, a P/E ratio of -16.92 and a beta of 1.22. The company has a 50 day simple moving average of $73.15 and a 200-day simple moving average of $92.00. 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 (NASDAQ:IRTC) last posted its earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. The company had revenue of $148.05 million for 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 company’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. On average, equities research analysts predict that iRhythm Technologies, Inc. will post -2.66 earnings per share for the current year.

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.