iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Braidwell LP

Braidwell LP boosted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 48.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 782,557 shares of the company’s stock after buying an additional 256,200 shares during the quarter. iRhythm Technologies makes up about 1.6% of Braidwell LP’s holdings, making the stock its 24th largest position. Braidwell LP’s holdings in iRhythm Technologies were worth $58,097,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of 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 during the last quarter. Comerica Bank grew its stake in iRhythm Technologies by 5,033.5% in the 1st quarter. Comerica Bank now owns 38,963 shares of the company’s stock worth $4,520,000 after acquiring an additional 38,204 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of iRhythm Technologies by 377.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 21,490 shares of the company’s stock valued at $2,313,000 after buying an additional 16,988 shares during the period. Diversified Trust Co grew its stake in shares of iRhythm Technologies by 32.9% during the 2nd quarter. Diversified Trust Co now owns 6,559 shares of the company’s stock valued at $706,000 after buying an additional 1,625 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of iRhythm Technologies by 361.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock valued at $5,270,000 after acquiring an additional 38,344 shares in the last quarter.

Insider Activity

In other news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction on Monday, November 4th. The stock was 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 directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $75.16 per share, with a total value of $500,866.24. Following the completion of the transaction, the director now owns 18,941 shares in the company, valued at $1,423,605.56. The trade was a 54.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IRTC. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 price target for the company. Oppenheimer cut their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Citigroup reduced their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Needham & Company LLC dropped their price objective on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average price target of $108.50.

iRhythm Technologies Stock Up 8.0 %

NASDAQ:IRTC opened at $89.02 on Friday. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -18.32 and a beta of 1.23. The stock has a 50-day moving average price of $73.83 and a two-hundred day moving average price of $81.79.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) 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 the consensus estimate of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.89) EPS. As a group, equities analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

iRhythm Technologies 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.