Values First Advisors Inc. Buys Shares of 5,121 iRhythm Technologies, Inc. (NASDAQ:IRTC)

Values First Advisors Inc. purchased a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,121 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP bought a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $58,311,000. Champlain Investment Partners LLC grew its stake in iRhythm Technologies by 104.1% in the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after buying an additional 293,710 shares in the last quarter. First Light Asset Management LLC grew its stake in iRhythm Technologies by 176.8% in the 1st quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock valued at $48,823,000 after buying an additional 268,829 shares in the last quarter. Mackenzie Financial Corp raised its holdings in iRhythm Technologies by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock valued at $153,745,000 after acquiring an additional 80,091 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of iRhythm Technologies by 14.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 511,905 shares of the company’s stock worth $59,381,000 after acquiring an additional 64,755 shares in the last quarter.

iRhythm Technologies Stock Up 5.1 %

IRTC opened at $78.12 on Friday. The company has a market cap of $2.43 billion, a P/E ratio of -18.47 and a beta of 1.22. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $124.11. The business’s 50-day moving average price is $68.28 and its 200-day moving average price is $86.84. The company has a current ratio of 6.92, a quick ratio of 6.76 and a debt-to-equity ratio of 6.50.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.28. The firm had revenue of $148.05 million for the quarter, compared to analysts’ expectations of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.61) earnings per share. On average, equities analysts expect that iRhythm Technologies, Inc. will post -2.66 EPS for the current year.

Analyst Ratings Changes

IRTC has been the topic of a number of analyst reports. Needham & Company LLC decreased their price objective on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a “neutral” rating and a $78.00 price target on the stock. Morgan Stanley lowered their price target on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.90.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the sale, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the sale, the executive vice president now directly owns 10,360 shares in the company, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,072 shares of company stock worth $372,748 in the last 90 days. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies 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.