Cwm LLC Decreases Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Cwm LLC decreased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,599 shares of the company’s stock after selling 208 shares during the period. Cwm LLC’s holdings in iRhythm Technologies were worth $119,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IRTC. Sei Investments Co. grew its holdings in iRhythm Technologies by 7.0% during the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company’s stock valued at $27,302,000 after buying an additional 15,381 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of iRhythm Technologies in the first quarter valued at $1,925,000. Capstone Investment Advisors LLC bought a new stake in iRhythm Technologies in the first quarter worth $1,078,000. Assenagon Asset Management S.A. raised its stake in iRhythm Technologies by 361.1% during the second quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock valued at $5,270,000 after purchasing an additional 38,344 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in iRhythm Technologies during the first quarter valued at $58,311,000.

iRhythm Technologies Price Performance

Shares of IRTC opened at $75.68 on Friday. The company has a debt-to-equity ratio of 6.50, a quick ratio of 6.76 and a current ratio of 6.92. The company has a 50 day moving average price of $68.51 and a 200-day moving average price of $86.78. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The stock has a market capitalization of $2.36 billion, a PE ratio of -17.72 and a beta of 1.22.

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

Analysts Set New Price Targets

IRTC has been the subject of a number of analyst reports. Truist Financial increased their price target on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley lowered their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Oppenheimer reduced their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group upped their target price on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.90.

Insiders Place Their Bets

In other news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the sale, the chief financial officer now directly owns 24,428 shares in the company, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, the chief financial officer now owns 24,428 shares of the company’s stock, valued at $1,718,265.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mervin Smith sold 688 shares of the company’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 transaction, the executive vice president now directly owns 10,360 shares in the company, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,072 shares of company stock worth $372,748. 0.68% of the stock is owned by corporate insiders.

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.