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Robeco Institutional Asset Management BV Purchases New Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Robeco Institutional Asset Management BV purchased a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,594 shares of the company’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also made changes to their positions in the IRTC. FNY Investment Advisers LLC acquired a new stake in iRhythm Technologies in the first quarter worth $55,000. CIBC Asset Management Inc acquired a new stake in iRhythm Technologies in the first quarter worth $216,000. Xponance Inc. acquired a new stake in iRhythm Technologies in the first quarter worth $222,000. Pearl River Capital LLC acquired a new stake in iRhythm Technologies in the first quarter worth $232,000. Finally, Bluestein RH & Co. LLC acquired a new stake in iRhythm Technologies in the first quarter worth $236,000. 98.98% of the stock is owned by institutional investors and hedge funds.

iRhythm Technologies Trading Down 2.1%

NASDAQ:IRTC opened at $116.46 on Monday. The company has a quick ratio of 3.84, a current ratio of 4.04 and a debt-to-equity ratio of 0.14. iRhythm Technologies, Inc. has a 1-year low of $66.85 and a 1-year high of $169.54. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -26.35 and a beta of 1.53. The stock has a fifty day simple moving average of $142.01 and a 200 day simple moving average of $137.46.

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iRhythm Technologies (NASDAQ:IRTC – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.15. The business had revenue of $102.10 million during the quarter, compared to analyst estimates of $100.51 million. iRhythm Technologies had a negative return on equity of 38.95% and a negative net margin of 36.15%. iRhythm Technologies’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.59) EPS. Sell-side analysts forecast that iRhythm Technologies, Inc. will post -3.07 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Douglas Devine sold 2,000 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the sale, the chief operating officer now directly owns 27,702 shares of the company’s stock, valued at approximately $3,462,750. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Daniel G. Wilson sold 3,000 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $122.57, for a total value of $367,710.00. Following the completion of the sale, the executive vice president now directly owns 34,562 shares of the company’s stock, valued at approximately $4,236,264.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Douglas Devine sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the chief operating officer now directly owns 27,702 shares of the company’s stock, valued at $3,462,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,090 shares of company stock valued at $632,089. Corporate insiders own 1.64% of the company’s stock.

Analyst Ratings Changes

IRTC has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on iRhythm Technologies from $172.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, October 11th. Citigroup decreased their price target on iRhythm Technologies from $157.00 to $147.00 in a research note on Wednesday, October 5th. Canaccord Genuity Group increased their price target on iRhythm Technologies from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, September 2nd. StockNews.com began coverage on iRhythm Technologies in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on iRhythm Technologies from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, September 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.73.

About iRhythm Technologies

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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

See Also

Want to see what other hedge funds are holding IRTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating).

Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

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