Stephens Investment Management Group LLC Purchases 42,205 Shares of iRhythm Technologies $IRTC

Stephens Investment Management Group LLC grew its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 561,530 shares of the company’s stock after acquiring an additional 42,205 shares during the period. Stephens Investment Management Group LLC owned 1.71% of iRhythm Technologies worth $66,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after purchasing an additional 60 shares during the period. Ascent Group LLC lifted its stake in iRhythm Technologies by 0.7% in the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock valued at $1,701,000 after buying an additional 70 shares during the period. WoodTrust Financial Corp boosted its holdings in shares of iRhythm Technologies by 0.7% during the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock worth $1,787,000 after buying an additional 70 shares in the last quarter. US Bancorp DE boosted its holdings in shares of iRhythm Technologies by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock worth $179,000 after buying an additional 75 shares in the last quarter. Finally, State of Wyoming grew its position in shares of iRhythm Technologies by 16.0% during the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after buying an additional 85 shares during the period.

iRhythm Technologies Price Performance

IRTC opened at $126.48 on Friday. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98. The company’s 50-day moving average is $115.19 and its 200 day moving average is $134.56. iRhythm Technologies has a fifty-two week low of $100.85 and a fifty-two week high of $212.00. The firm has a market capitalization of $4.16 billion, a P/E ratio of -147.07 and a beta of 1.27.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.21. The business had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.97) EPS. Research analysts expect that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar bought 5,312 shares of iRhythm Technologies stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $10.71 per share, with a total value of $56,891.52. Following the completion of the acquisition, the director directly owned 25,611 shares in the company, valued at approximately $274,293.81. The trade was a 26.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IRTC. Truist Financial dropped their target price on shares of iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Bank of America decreased their price target on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Citigroup upped their price objective on shares of iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company cut their price objective on shares of iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.38.

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.