Segall Bryant & Hamill LLC Boosts Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Segall Bryant & Hamill LLC grew its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,602 shares of the company’s stock after buying an additional 2,742 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in iRhythm Technologies were worth $9,844,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. First Light Asset Management LLC boosted its stake in iRhythm Technologies by 176.8% during the 1st quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock valued at $48,823,000 after acquiring an additional 268,829 shares during the last quarter. Mackenzie Financial Corp increased its holdings in iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock valued at $153,745,000 after buying an additional 80,091 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in iRhythm Technologies by 14.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company’s stock valued at $51,192,000 after buying an additional 60,560 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in iRhythm Technologies by 12.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after buying an additional 58,668 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after acquiring an additional 58,448 shares in the last quarter.

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $75.16 per share, with a total value of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares in the company, valued at approximately $1,423,605.56. The trade was a 54.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at $12,380,103.89. The trade was a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IRTC shares. Citigroup dropped their price target on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. JPMorgan Chase & Co. reduced their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC decreased their price target on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Canaccord Genuity Group increased their price objective 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. Finally, Robert W. Baird decreased their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.50.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $74.24 on Friday. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -15.27 and a beta of 1.23. The business has a 50 day simple moving average of $72.81 and a 200 day simple moving average of $82.45.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. During the same period in the previous year, the company posted ($0.89) EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts anticipate that iRhythm Technologies, Inc. will post -3.44 EPS for the current 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.