Bryce Point Capital LLC Takes Position in iRhythm Technologies $IRTC

Bryce Point Capital LLC bought a new stake in iRhythm Technologies (NASDAQ:IRTC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,860 shares of the company’s stock, valued at approximately $748,000.

A number of other large investors have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of iRhythm Technologies by 169.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock valued at $94,535,000 after buying an additional 568,261 shares in the last quarter. Champlain Investment Partners LLC grew its stake in iRhythm Technologies by 13.3% during the 1st quarter. Champlain Investment Partners LLC now owns 822,791 shares of the company’s stock valued at $86,130,000 after purchasing an additional 96,529 shares in the last quarter. Blair William & Co. IL grew its stake in iRhythm Technologies by 30.6% during the 1st quarter. Blair William & Co. IL now owns 789,999 shares of the company’s stock valued at $82,697,000 after purchasing an additional 185,262 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in iRhythm Technologies by 6.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 552,916 shares of the company’s stock valued at $85,127,000 after purchasing an additional 32,334 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in iRhythm Technologies during the 1st quarter valued at approximately $54,249,000.

Insider Transactions at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $207.44, for a total value of $1,659,520.00. Following the sale, the chief financial officer directly owned 26,470 shares in the company, valued at $5,490,936.80. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Patterson sold 2,555 shares of iRhythm Technologies stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $158.97, for a total value of $406,168.35. Following the transaction, the insider owned 43,667 shares in the company, valued at approximately $6,941,742.99. This trade represents a 5.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,746 shares of company stock worth $3,925,138 over the last quarter. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BTIG Research raised their price objective on iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday. Robert W. Baird raised their price objective on iRhythm Technologies from $180.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Citigroup increased their target price on iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group increased their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.57.

iRhythm Technologies Trading Down 1.2%

Shares of NASDAQ IRTC opened at $185.00 on Tuesday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of -114.91 and a beta of 1.13. iRhythm Technologies has a 12-month low of $71.00 and a 12-month high of $212.00. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32. The stock’s 50 day simple moving average is $177.41 and its 200 day simple moving average is $153.95.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The business had revenue of $192.88 million for the quarter, compared to the consensus estimate of $184.75 million. During the same quarter last year, the business posted ($1.26) EPS. The business’s revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities research analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

About iRhythm Technologies

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.