Y Intercept Hong Kong Ltd Sells 22,037 Shares of iRhythm Technologies $IRTC

Y Intercept Hong Kong Ltd decreased its position in iRhythm Technologies (NASDAQ:IRTC) by 72.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,376 shares of the company’s stock after selling 22,037 shares during the period. Y Intercept Hong Kong Ltd’s holdings in iRhythm Technologies were worth $1,441,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in iRhythm Technologies during the 3rd quarter valued at $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of iRhythm Technologies during the second quarter worth about $39,000. Lazard Asset Management LLC bought a new stake in shares of iRhythm Technologies in the second quarter worth about $72,000. CWM LLC increased its holdings in iRhythm Technologies by 73.6% during the 3rd quarter. CWM LLC now owns 979 shares of the company’s stock valued at $168,000 after purchasing an additional 415 shares during the period. Finally, State of Wyoming bought a new position in iRhythm Technologies during the 2nd quarter valued at approximately $179,000.

Insider Buying and Selling

In other news, CEO Quentin S. Blackford sold 14,059 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $182.94, for a total value of $2,571,953.46. Following the sale, the chief executive officer directly owned 164,979 shares of the company’s stock, valued at approximately $30,181,258.26. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chad Patterson sold 280 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $51,752.40. Following the transaction, the insider owned 43,387 shares of the company’s stock, valued at $8,019,219.21. The trade was a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,817 shares of company stock worth $3,081,715 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Loop Capital set a $220.00 price target on shares of iRhythm Technologies in a report on Friday, October 31st. Citigroup upped their price objective on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a report on Friday, October 31st. The Goldman Sachs Group lifted their target price on shares of iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Evercore ISI raised shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $194.00 to $210.00 in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $219.23.

iRhythm Technologies Stock Up 3.7%

NASDAQ:IRTC opened at $154.51 on Friday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.63 and a quick ratio of 4.50. The firm’s 50-day moving average price is $173.31 and its 200-day moving average price is $170.13. The company has a market capitalization of $4.98 billion, a PE ratio of -95.97 and a beta of 1.12. iRhythm Technologies has a 1-year low of $92.52 and a 1-year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.30. The business had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. iRhythm Technologies’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.26) earnings per share. On average, equities analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

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.