iRhythm Technologies $IRTC Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of iRhythm Technologies (NASDAQ:IRTC) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,240,099 shares of the company’s stock after buying an additional 4,439 shares during the quarter. Vanguard Group Inc. owned about 10.06% of iRhythm Technologies worth $557,265,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of iRhythm Technologies during the third quarter worth about $30,000. Smartleaf Asset Management LLC grew its position in iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 99 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of iRhythm Technologies in the second quarter valued at approximately $39,000. Assetmark Inc. raised its holdings in shares of iRhythm Technologies by 273.9% during the third quarter. Assetmark Inc. now owns 415 shares of the company’s stock valued at $71,000 after buying an additional 304 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in iRhythm Technologies during the 2nd quarter worth $72,000.

Analyst Upgrades and Downgrades

Several research firms have commented on IRTC. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Wall Street Zen upgraded iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reiterated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, Freedom Capital upgraded shares of iRhythm Technologies to a “strong-buy” rating in a research report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.62.

Insider Activity at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,478 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the transaction, the insider owned 53,281 shares in the company, valued at $9,847,927.23. This represents a 4.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $145.70, for a total transaction of $773,958.40. Following the sale, the director owned 20,299 shares of the company’s stock, valued at approximately $2,957,564.30. This represents a 20.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 8,070 shares of company stock valued at $1,283,720. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Down 2.9%

IRTC stock opened at $137.10 on Wednesday. iRhythm Technologies has a 52-week low of $92.52 and a 52-week high of $212.00. The company’s 50 day simple moving average is $163.48 and its 200-day simple moving average is $171.19. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The firm has a market capitalization of $4.43 billion, a P/E ratio of -97.93 and a beta of 1.06.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The firm had revenue of $208.89 million during the quarter, compared to analyst estimates of $202.61 million. During the same quarter last year, the business posted ($0.04) EPS. The company’s revenue was up 27.1% on a year-over-year basis. As a group, equities research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.