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.
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
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