iRhythm Technologies $IRTC Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 570.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,504 shares of the company’s stock after buying an additional 14,042 shares during the quarter. XTX Topco Ltd owned about 0.05% of iRhythm Technologies worth $2,541,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ANTIPODES PARTNERS Ltd purchased a new stake in iRhythm Technologies during the 2nd quarter valued at about $39,000. AlphaQuest LLC purchased a new position in iRhythm Technologies during the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in iRhythm Technologies during the first quarter worth $50,000. CWM LLC boosted its stake in iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company’s stock worth $54,000 after buying an additional 182 shares during the last quarter. Finally, US Bancorp DE grew its holdings in iRhythm Technologies by 61.9% in the 1st quarter. US Bancorp DE now owns 978 shares of the company’s stock valued at $102,000 after buying an additional 374 shares in the last quarter.

Analyst Ratings Changes

IRTC has been the topic of several analyst reports. Bank of America began coverage on iRhythm Technologies in a report on Wednesday, August 20th. They set a “buy” rating and a $200.00 price target on the stock. William Blair raised shares of iRhythm Technologies to a “strong-buy” rating in a research note on Friday, August 1st. Truist Financial raised their price target on shares of iRhythm Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Evercore ISI reduced their price target on shares of iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Finally, Robert W. Baird increased their price objective on iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.57.

Insiders Place Their Bets

In related news, CEO Quentin S. Blackford sold 14,059 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the completion of the transaction, the chief executive officer directly owned 164,979 shares of the company’s stock, valued at $30,181,258.26. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel G. Wilson sold 8,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $207.44, for a total value of $1,659,520.00. Following the sale, the chief financial officer owned 26,470 shares in the company, valued at approximately $5,490,936.80. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,059 shares of company stock valued at $5,106,473. 1.10% of the stock is currently owned by company insiders.

iRhythm Technologies Trading Down 0.9%

NASDAQ IRTC opened at $186.66 on Thursday. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of -115.94 and a beta of 1.13. The firm has a 50 day simple moving average of $177.32 and a 200-day simple moving average of $160.85. iRhythm Technologies has a one year low of $81.10 and a one year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.30. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The company had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. During the same period in the prior year, the business earned ($1.26) EPS. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal 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.