Quantbot Technologies LP lifted its position in Irhythm Technologies Inc (NASDAQ:IRTC) by 44.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,609 shares of the company’s stock after buying an additional 2,641 shares during the period. Quantbot Technologies LP’s holdings in Irhythm Technologies were worth $814,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in Irhythm Technologies in the second quarter valued at about $101,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Irhythm Technologies in the second quarter valued at about $140,000. Great West Life Assurance Co. Can grew its stake in Irhythm Technologies by 119.9% in the second quarter. Great West Life Assurance Co. Can now owns 1,979 shares of the company’s stock valued at $161,000 after purchasing an additional 1,079 shares during the last quarter. Prudential Financial Inc. purchased a new position in Irhythm Technologies in the third quarter valued at about $226,000. Finally, United Services Automobile Association purchased a new position in Irhythm Technologies in the second quarter valued at about $242,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Shares of IRTC stock opened at $74.07 on Thursday. Irhythm Technologies Inc has a fifty-two week low of $50.37 and a fifty-two week high of $98.37. The stock has a market cap of $1.79 billion, a PE ratio of -56.98 and a beta of 1.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.69 and a current ratio of 4.79.

Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Tuesday, October 30th. The company reported ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.02. Irhythm Technologies had a negative return on equity of 62.85% and a negative net margin of 33.79%. The business had revenue of $38.10 million for the quarter, compared to analyst estimates of $35.87 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue was up 52.2% on a year-over-year basis. Sell-side analysts predict that Irhythm Technologies Inc will post -1.86 EPS for the current year.

In other news, EVP Derrick Sung sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $88.01, for a total transaction of $880,100.00. Following the sale, the executive vice president now owns 29,458 shares in the company, valued at $2,592,598.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin M. King sold 42,832 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $70.11, for a total value of $3,002,951.52. Following the sale, the insider now owns 230,180 shares in the company, valued at approximately $16,137,919.80. The disclosure for this sale can be found here. Insiders have sold 80,000 shares of company stock worth $5,915,812 in the last 90 days. Insiders own 23.30% of the company’s stock.

Several research firms have issued reports on IRTC. BidaskClub lowered Irhythm Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research upgraded Irhythm Technologies from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Saturday, October 27th. Canaccord Genuity lifted their target price on Irhythm Technologies from $93.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. Chardan Capital began coverage on Irhythm Technologies in a research note on Thursday, September 6th. They issued a “buy” rating and a $117.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Irhythm Technologies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $93.13.

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Irhythm Technologies Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company 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.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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