Ascent Group LLC Grows Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Ascent Group LLC raised its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,980 shares of the company’s stock after buying an additional 175 shares during the quarter. Ascent Group LLC’s holdings in iRhythm Technologies were worth $462,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC lifted its position in shares of iRhythm Technologies by 10,650.0% during the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after buying an additional 426 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of iRhythm Technologies during the fourth quarter valued at about $92,000. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies during the first quarter valued at about $126,000. Quent Capital LLC purchased a new stake in shares of iRhythm Technologies during the fourth quarter valued at about $161,000. Finally, Russell Investments Group Ltd. lifted its position in shares of iRhythm Technologies by 79,700.0% during the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after buying an additional 1,594 shares during the last quarter.

Analysts Set New Price Targets

IRTC has been the subject of several analyst reports. Canaccord Genuity Group decreased their price target on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Morgan Stanley decreased their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Truist Financial decreased their price objective on shares of iRhythm Technologies from $145.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Wolfe Research raised shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.88.

Insider Transactions at iRhythm Technologies

In other news, CAO Marc W. Rosenbaum sold 510 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $45,344.10. Following the sale, the chief accounting officer now owns 8,174 shares of the company’s stock, valued at approximately $726,750.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Minang Turakhia sold 1,404 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $105.65, for a total transaction of $148,332.60. Following the sale, the chief marketing officer now owns 27,255 shares of the company’s stock, valued at approximately $2,879,490.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marc W. Rosenbaum sold 510 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $45,344.10. Following the sale, the chief accounting officer now directly owns 8,174 shares in the company, valued at approximately $726,750.34. The disclosure for this sale can be found here. Insiders have sold 3,045 shares of company stock valued at $294,234 in the last 90 days. 0.68% of the stock is currently owned by company insiders.

iRhythm Technologies Stock Performance

IRTC traded down $0.07 during trading on Tuesday, reaching $88.50. 41,147 shares of the company’s stock were exchanged, compared to its average volume of 403,569. iRhythm Technologies, Inc. has a 1 year low of $70.24 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 7.13, a current ratio of 7.10 and a quick ratio of 6.95. The stock has a market capitalization of $2.75 billion, a P/E ratio of -20.94 and a beta of 1.24. The company’s fifty day simple moving average is $95.73 and its 200-day simple moving average is $105.74.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.48). iRhythm Technologies had a negative return on equity of 69.87% and a negative net margin of 25.33%. The business had revenue of $131.93 million for the quarter, compared to analysts’ expectations of $128.87 million. As a group, research analysts predict that iRhythm Technologies, Inc. will post -3.22 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.