Blair William & Co. IL Trims Holdings in iRhythm Technologies $IRTC

Blair William & Co. IL lowered its stake in shares of iRhythm Technologies (NASDAQ:IRTC) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 718,797 shares of the company’s stock after selling 21,924 shares during the quarter. Blair William & Co. IL’s holdings in iRhythm Technologies were worth $127,543,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new position in shares of iRhythm Technologies during the 3rd quarter worth $30,000. GAMMA Investing LLC grew its holdings in shares of iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. FNY Investment Advisers LLC acquired a new stake in iRhythm Technologies during the third quarter worth about $34,000. Finally, Optiver Holding B.V. acquired a new stake in iRhythm Technologies during the third quarter worth about $35,000.

iRhythm Technologies Trading Down 4.3%

Shares of IRTC stock opened at $108.84 on Wednesday. iRhythm Technologies has a 1-year low of $101.75 and a 1-year high of $212.00. The firm has a market cap of $3.58 billion, a PE ratio of -126.56 and a beta of 1.27. The company has a 50-day moving average of $116.85 and a two-hundred day moving average of $140.09. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The business had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. During the same period in the previous year, the firm earned ($0.97) EPS. The business’s revenue was up 25.6% on a year-over-year basis. On average, analysts predict that iRhythm Technologies will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Weiss Ratings downgraded shares of iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their price target on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Wall Street Zen cut iRhythm Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, BTIG Research reiterated a “buy” rating and issued a $185.00 price objective on shares of iRhythm Technologies in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.38.

Insider Transactions at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar purchased 5,312 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the purchase, the director directly owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by insiders.

iRhythm Technologies Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.