KBC Group NV Has $103,000 Holdings in iRhythm Technologies $IRTC

KBC Group NV decreased its position in shares of iRhythm Technologies (NASDAQ:IRTC) by 88.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 870 shares of the company’s stock after selling 6,593 shares during the quarter. KBC Group NV’s holdings in iRhythm Technologies were worth $103,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of iRhythm Technologies by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock valued at $587,418,000 after buying an additional 70,420 shares in the last quarter. RTW Investments LP acquired a new stake in shares of iRhythm Technologies during the 4th quarter worth approximately $209,732,000. Geode Capital Management LLC boosted its position in shares of iRhythm Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock worth $152,337,000 after acquiring an additional 68,301 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in iRhythm Technologies by 45.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock valued at $147,251,000 after purchasing an additional 259,800 shares in the last quarter. Finally, Millennium Management LLC raised its position in iRhythm Technologies by 197.4% during the fourth quarter. Millennium Management LLC now owns 826,376 shares of the company’s stock valued at $146,632,000 after purchasing an additional 548,519 shares in the last quarter.

Insider Transactions at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar bought 5,312 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $10.71 per share, with a total value of $56,891.52. Following the acquisition, the director directly owned 25,611 shares in the company, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by insiders.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $112.15 on Tuesday. The firm’s fifty day moving average price is $113.61 and its two-hundred day moving average price is $127.38. The stock has a market cap of $3.69 billion, a PE ratio of -130.41 and a beta of 1.27. iRhythm Technologies has a fifty-two week low of $100.85 and a fifty-two week high of $212.00. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The company had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. During the same period in the prior year, the business earned ($0.97) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities analysts expect that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IRTC has been the topic of a number of research analyst reports. Bank of America reduced their target price on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings raised iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. BTIG Research restated a “buy” rating and set a $185.00 price objective on shares of iRhythm Technologies in a research report on Monday, June 22nd. Canaccord Genuity Group reduced their price objective on iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Finally, Needham & Company LLC lifted their target price on iRhythm Technologies from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Buy” and an average price target of $184.71.

iRhythm Technologies 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.