Stifel Financial Corp Decreases Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Stifel Financial Corp lowered its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,836 shares of the company’s stock after selling 1,052 shares during the period. Stifel Financial Corp’s holdings in iRhythm Technologies were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of iRhythm Technologies during the 3rd quarter worth approximately $59,000. nVerses Capital LLC grew its holdings in iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,600 shares during the period. Bank Pictet & Cie Europe AG increased its position in iRhythm Technologies by 22.3% in the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after buying an additional 567 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of iRhythm Technologies in the third quarter valued at $243,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of iRhythm Technologies by 27.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock valued at $261,000 after buying an additional 754 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC decreased their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Truist Financial lifted their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company restated an “equal weight” rating and set a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group initiated coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a “neutral” rating and a $78.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.27.

Insider Activity

In other news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares of the company’s stock, valued at $12,380,103.89. The trade was a 9.17 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $89.99 on Friday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -18.52 and a beta of 1.26. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The business has a 50-day simple moving average of $82.68 and a 200 day simple moving average of $81.20. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.89) EPS. On average, research analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

iRhythm Technologies Company 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.