Loomis Sayles & Co. L P Invests $39.34 Million in iRhythm Technologies $IRTC

Loomis Sayles & Co. L P bought a new stake in shares of iRhythm Technologies (NASDAQ:IRTC) in the second quarter, Holdings Channel reports. The institutional investor bought 255,517 shares of the company’s stock, valued at approximately $39,339,000.

Other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its stake in iRhythm Technologies by 2.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,256 shares of the company’s stock valued at $501,000 after purchasing an additional 93 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of iRhythm Technologies by 3.1% in the 1st quarter. Hsbc Holdings PLC now owns 4,590 shares of the company’s stock worth $474,000 after buying an additional 138 shares during the last quarter. CWM LLC raised its position in shares of iRhythm Technologies by 54.3% during the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after buying an additional 182 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of iRhythm Technologies by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,769 shares of the company’s stock valued at $734,000 after acquiring an additional 194 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in iRhythm Technologies in the second quarter worth about $39,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IRTC shares. Bank of America initiated coverage on iRhythm Technologies in a research report on Wednesday, August 20th. They set a “buy” rating and a $200.00 price objective on the stock. Citigroup boosted their target price on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, October 31st. BTIG Research increased their price target on iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a report on Friday, October 31st. Loop Capital set a $220.00 price objective on shares of iRhythm Technologies in a research note on Friday, October 31st. Finally, Truist Financial boosted their price objective on shares of iRhythm Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.57.

iRhythm Technologies Stock Up 0.6%

Shares of NASDAQ IRTC opened at $187.84 on Friday. iRhythm Technologies has a 52-week low of $81.10 and a 52-week high of $212.00. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -116.67 and a beta of 1.13. The stock has a 50 day moving average price of $177.78 and a 200 day moving average price of $161.53. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The business had revenue of $192.88 million during the quarter, compared to analyst estimates of $184.75 million. During the same period in the previous year, the company posted ($1.26) EPS. iRhythm Technologies’s revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. Sell-side analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Activity

In related news, CFO Daniel G. Wilson sold 8,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the sale, the chief financial officer directly owned 26,470 shares of the company’s stock, valued at $5,490,936.80. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 14,059 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the transaction, the chief executive officer owned 164,979 shares in the company, valued at approximately $30,181,258.26. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,059 shares of company stock valued at $5,106,473 over the last 90 days. 1.10% of the stock is currently owned by corporate 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.