Creative Planning Takes $385,000 Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Creative Planning bought a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,576 shares of the company’s stock, valued at approximately $385,000.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC lifted its stake in shares of iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after purchasing an additional 426 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of iRhythm Technologies by 79.6% in the second 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 last quarter. SG Americas Securities LLC purchased a new position in iRhythm Technologies during the first quarter worth approximately $126,000. Russell Investments Group Ltd. boosted its position in 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 purchasing an additional 1,594 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position 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 in the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on IRTC. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Wolfe Research upgraded iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Thursday, June 20th. Truist Financial cut their price target on iRhythm Technologies from $117.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday. Citigroup cut their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Needham & Company LLC dropped their price target on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $112.40.

Insider Activity

In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the sale, the insider now directly owns 37,133 shares of the company’s stock, valued at approximately $2,772,349.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of the stock in a transaction 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 in the company, valued at approximately $773,477.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chad Patterson sold 3,012 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $224,875.92. Following the sale, the insider now directly owns 37,133 shares of the company’s stock, valued at $2,772,349.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,072 shares of company stock worth $372,748. Corporate insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Up 2.7 %

IRTC stock opened at $61.77 on Thursday. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The company has a quick ratio of 6.76, a current ratio of 6.92 and a debt-to-equity ratio of 6.50. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -14.60 and a beta of 1.22. The company has a 50 day moving average of $68.33 and a two-hundred day moving average of $88.34.

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