Hennion & Walsh Asset Management Inc. Has $406,000 Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Hennion & Walsh Asset Management Inc. raised its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,506 shares of the company’s stock after acquiring an additional 994 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in iRhythm Technologies were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in iRhythm Technologies in the 3rd quarter valued at about $59,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of iRhythm Technologies during the 3rd quarter worth approximately $119,000. nVerses Capital LLC grew its position in shares of iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,600 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of iRhythm Technologies by 22.3% during the 3rd 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 period. Finally, Aigen Investment Management LP acquired a new stake in shares of iRhythm Technologies during the 3rd quarter worth approximately $243,000.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $108.33 on Tuesday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $124.11. The firm’s 50 day moving average price is $88.22 and its two-hundred day moving average price is $80.42. The firm has a market cap of $3.39 billion, a P/E ratio of -22.29 and a beta of 1.26.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.89) EPS. On average, analysts forecast that iRhythm Technologies, Inc. will post -3.35 EPS for the current fiscal year.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the sale, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the sale, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on IRTC. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird lowered their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective for the company. StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.45.

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.