3,276 Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC) Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,276 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds have also made changes to their positions in IRTC. SeaCrest Wealth Management LLC raised 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 raised its stake in shares of iRhythm Technologies by 4.6% during the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock worth $462,000 after acquiring an additional 175 shares in the last quarter. Swiss National Bank lifted its position in iRhythm Technologies by 0.3% during the first quarter. Swiss National Bank now owns 60,500 shares of the company’s stock valued at $7,018,000 after acquiring an additional 200 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in iRhythm Technologies by 3.4% in 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.

iRhythm Technologies Stock Down 3.6 %

NASDAQ:IRTC opened at $80.45 on Friday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company’s fifty day moving average price is $72.65 and its 200-day moving average price is $83.38. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The firm has a market capitalization of $2.52 billion, a P/E ratio of -16.55 and a beta of 1.23.

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

Insider Buying and Selling

In other news, Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $75.16 per share, with a total value of $500,866.24. Following the purchase, the director now directly owns 18,941 shares in the company, valued at $1,423,605.56. The trade was a 54.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of iRhythm Technologies stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on IRTC shares. The Goldman Sachs Group began coverage on iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective for the company. Needham & Company LLC decreased their price target on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Citigroup dropped their price target on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. StockNews.com downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $108.50.

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.