Rhumbline Advisers Purchases 2,209 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Rhumbline Advisers raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 45,681 shares of the company’s stock after buying an additional 2,209 shares during the period. Rhumbline Advisers owned about 0.15% of iRhythm Technologies worth $4,917,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of IRTC. Victory Capital Management Inc. boosted its position in iRhythm Technologies by 22.3% in the 4th quarter. Victory Capital Management Inc. now owns 4,070 shares of the company’s stock valued at $436,000 after buying an additional 743 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of iRhythm Technologies by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,659 shares of the company’s stock worth $25,653,000 after purchasing an additional 3,486 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of iRhythm Technologies by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 7,208 shares of the company’s stock worth $772,000 after purchasing an additional 113 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of iRhythm Technologies by 41.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,985 shares of the company’s stock worth $1,211,000 after purchasing an additional 3,507 shares during the last quarter. Finally, Norges Bank bought a new position in shares of iRhythm Technologies in the 4th quarter worth $26,522,000.

Insider Activity at iRhythm Technologies

In related news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares of the company’s stock, valued at $1,718,265.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CMO Minang Turakhia sold 1,404 shares of iRhythm Technologies stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total value of $148,332.60. Following the sale, the chief marketing officer now owns 27,255 shares of the company’s stock, valued at $2,879,490.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies 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 completion of the sale, the chief financial officer now directly owns 24,428 shares in the company, valued at approximately $1,718,265.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,476 shares of company stock valued at $521,081. 0.68% of the stock is owned by insiders.

iRhythm Technologies Stock Performance

IRTC opened at $76.61 on Monday. The business’s 50-day moving average price is $79.52 and its two-hundred day moving average price is $95.17. iRhythm Technologies, Inc. has a 1 year low of $60.88 and a 1 year high of $124.11. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -18.11 and a beta of 1.22. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly 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 firm had revenue of $148.05 million for the quarter, compared to the consensus estimate of $146.15 million. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.61) EPS. Equities analysts expect that iRhythm Technologies, Inc. will post -2.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IRTC shares. Morgan Stanley reduced their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Citigroup reduced their price target on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Oppenheimer reduced their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird reduced their target price on iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

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.