iRhythm Technologies, Inc. (NASDAQ:IRTC) Position Cut by Raymond James & Associates

Raymond James & Associates trimmed its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,456 shares of the company’s stock after selling 124 shares during the period. Raymond James & Associates’ holdings in iRhythm Technologies were worth $263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRTC. Campbell & CO Investment Adviser LLC increased its stake in shares of iRhythm Technologies by 1.4% during the third quarter. Campbell & CO Investment Adviser LLC now owns 10,059 shares of the company’s stock valued at $948,000 after acquiring an additional 137 shares during the period. Covestor Ltd raised its stake in shares of iRhythm Technologies by 285.2% in the 3rd quarter. Covestor Ltd now owns 312 shares of the company’s stock worth $29,000 after buying an additional 231 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of iRhythm Technologies by 110.3% in the third quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock valued at $54,000 after buying an additional 301 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in iRhythm Technologies by 21.6% during the third quarter. Bank Pictet & Cie Europe AG now owns 2,564 shares of the company’s stock valued at $242,000 after buying an additional 456 shares in the last quarter. Finally, Swiss National Bank grew its holdings in iRhythm Technologies by 0.9% during the third quarter. Swiss National Bank now owns 67,000 shares of the company’s stock worth $6,315,000 after acquiring an additional 600 shares during the period.

Insider Buying and Selling at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 7,615 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the transaction, the insider now directly owns 48,962 shares of the company’s stock, valued at $5,971,405.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Patrick Michael Murphy sold 7,615 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $928,725.40. Following the transaction, the insider now owns 48,962 shares in the company, valued at $5,971,405.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the sale, the chief executive officer now owns 180,015 shares of the company’s stock, valued at $21,954,629.40. The disclosure for this sale can be found here. Insiders sold 35,052 shares of company stock valued at $4,274,942 in the last quarter. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

IRTC has been the subject of several research reports. Canaccord Genuity Group raised their price objective on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. dropped their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, Needham & Company LLC raised their price objective on iRhythm Technologies from $136.00 to $137.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.11.

iRhythm Technologies Stock Down 2.9 %

NASDAQ:IRTC opened at $108.64 on Tuesday. iRhythm Technologies, Inc. has a 1-year low of $70.24 and a 1-year high of $134.45. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -26.82 and a beta of 1.30. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average price is $111.16 and its 200 day moving average price is $102.64.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. The business had revenue of $132.51 million during the quarter, compared to analyst estimates of $131.14 million. On average, sell-side analysts forecast that iRhythm Technologies, Inc. will post -3.14 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.