Point72 Asia Singapore Pte. Ltd. Sells 1,758 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Point72 Asia Singapore Pte. Ltd. decreased its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 84.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319 shares of the company’s stock after selling 1,758 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in iRhythm Technologies were worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC boosted its stake in shares of iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after purchasing an additional 426 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after buying an additional 277 shares during the period. SG Americas Securities LLC bought a new position in shares of iRhythm Technologies during the first quarter valued at about $126,000. Russell Investments Group Ltd. increased its holdings in shares of iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after buying an additional 1,594 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its holdings in iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after acquiring an additional 150 shares during the period.

iRhythm Technologies Stock Down 3.6 %

NASDAQ:IRTC opened at $71.58 on Wednesday. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The firm’s 50-day moving average price is $73.15 and its 200-day moving average price is $92.00. The company has a market capitalization of $2.23 billion, a PE ratio of -16.92 and a beta of 1.22. iRhythm Technologies, Inc. has a 1-year low of $60.88 and a 1-year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The business had revenue of $148.05 million during the quarter, compared to the consensus estimate of $146.15 million. During the same quarter last year, the firm earned ($0.61) earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities analysts predict that iRhythm Technologies, Inc. will post -2.66 EPS for the current fiscal year.

Analyst Ratings Changes

IRTC has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Citigroup lowered their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Oppenheimer dropped their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $117.00 price target (down previously from $134.00) on shares of iRhythm Technologies in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.33.

Insider Buying and Selling at iRhythm Technologies

In other news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares in the company, valued at $1,718,265.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the transaction, the executive vice president now owns 10,360 shares in the company, valued at $773,477.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice Bobzien sold 1,372 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the transaction, the chief financial officer now directly owns 24,428 shares in the company, valued at $1,718,265.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,072 shares of company stock worth $372,748. 0.68% of the stock is owned by insiders.

About iRhythm Technologies

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.