Posted by admin on Aug 13th, 2022
Los Angeles Capital Management LLC boosted its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,521 shares of the company’s stock after acquiring an additional 287 shares during the quarter. Los Angeles Capital Management LLC’s holdings in iRhythm Technologies were worth $869,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in iRhythm Technologies by 30.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,001 shares of the company’s stock worth $471,000 after buying an additional 943 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in iRhythm Technologies by 30.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 10,427 shares of the company’s stock worth $1,227,000 after buying an additional 2,440 shares during the period. New York State Common Retirement Fund raised its holdings in iRhythm Technologies by 39.3% during the 4th quarter. New York State Common Retirement Fund now owns 225,522 shares of the company’s stock worth $26,542,000 after buying an additional 63,582 shares during the period. Nisa Investment Advisors LLC raised its holdings in iRhythm Technologies by 211.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,103 shares of the company’s stock worth $138,000 after buying an additional 749 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in iRhythm Technologies during the 4th quarter worth approximately $471,000. Institutional investors own 97.92% of the company’s stock.
Shares of iRhythm Technologies stock opened at $151.42 on Friday. The firm has a 50-day moving average of $133.60 and a 200-day moving average of $133.16. The stock has a market cap of $4.55 billion, a PE ratio of -34.26 and a beta of 1.50. iRhythm Technologies, Inc. has a 52-week low of $41.66 and a 52-week high of $169.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.43 and a current ratio of 4.04.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.14. The company had revenue of $102.10 million during the quarter, compared to analysts’ expectations of $100.51 million. iRhythm Technologies had a negative net margin of 36.15% and a negative return on equity of 38.95%. iRhythm Technologies’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.59) earnings per share. As a group, sell-side analysts forecast that iRhythm Technologies, Inc. will post -3.06 EPS for the current year.
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $135.00 price objective (down from $183.00) on shares of iRhythm Technologies in a report on Wednesday, June 22nd. Truist Financial lowered their price objective on shares of iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Citigroup lifted their price objective on shares of iRhythm Technologies to $157.00 in a report on Tuesday. Finally, BTIG Research boosted their target price on shares of iRhythm Technologies from $155.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.75.
In related news, CFO Douglas Devine sold 10,109 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $114.22, for a total value of $1,154,649.98. Following the completion of the transaction, the chief financial officer now owns 29,702 shares of the company’s stock, valued at $3,392,562.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Douglas Devine sold 10,109 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $114.22, for a total value of $1,154,649.98. Following the completion of the transaction, the chief financial officer now owns 29,702 shares of the company’s stock, valued at $3,392,562.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Merz Cathleen Noel Bairey sold 500 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $111.76, for a total value of $55,880.00. Following the completion of the transaction, the director now directly owns 4,977 shares of the company’s stock, valued at approximately $556,229.52. The disclosure for this sale can be found here. Insiders sold a total of 13,276 shares of company stock valued at $1,501,009 over the last quarter. 1.64% of the stock is owned by corporate insiders.
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
Want to see what other hedge funds are holding IRTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating).
Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
Trade Desk (NASDAQ:TTD) Price Target Raised to $70.00
Los Angeles Capital Management LLC Purchases 280 Shares of ePlus inc. (NASDAQ:PLUS)