Values First Advisors Inc. lifted its position in shares of iRhythm Technologies (NASDAQ:IRTC – Free Report) by 11.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,203 shares of the company’s stock after purchasing an additional 615 shares during the period. Values First Advisors Inc.’s holdings in iRhythm Technologies were worth $650,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of iRhythm Technologies by 30,928.6% during the first quarter. GAMMA Investing LLC now owns 8,688 shares of the company’s stock worth $909,000 after purchasing an additional 8,660 shares during the period. SG Americas Securities LLC raised its stake in iRhythm Technologies by 95.6% in the first quarter. SG Americas Securities LLC now owns 8,427 shares of the company’s stock worth $882,000 after buying an additional 4,119 shares in the last quarter. Invesco Ltd. raised its stake in iRhythm Technologies by 1.1% in the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock worth $1,731,000 after buying an additional 207 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in iRhythm Technologies by 32.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company’s stock worth $449,000 after buying an additional 1,215 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in iRhythm Technologies by 13.6% in the fourth quarter. Ameriprise Financial Inc. now owns 71,254 shares of the company’s stock worth $6,425,000 after buying an additional 8,528 shares in the last quarter.
Insider Activity at iRhythm Technologies
In related news, CFO Daniel G. Wilson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $150.00, for a total value of $450,000.00. Following the sale, the chief financial officer owned 40,307 shares in the company, valued at approximately $6,046,050. This trade represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chad Patterson sold 936 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $140,400.00. Following the completion of the sale, the insider owned 48,929 shares in the company, valued at $7,339,350. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,356 shares of company stock valued at $796,882 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.
iRhythm Technologies Price Performance
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The firm had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. iRhythm Technologies’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the business earned ($1.23) EPS. As a group, equities research analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on IRTC shares. Wells Fargo & Company raised shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. Citigroup increased their price target on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Robert W. Baird raised their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.60.
View Our Latest Report on IRTC
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.
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