iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Blair William & Co. IL

Blair William & Co. IL reduced its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 4.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 799,080 shares of the company’s stock after selling 33,854 shares during the period. Blair William & Co. IL’s holdings in iRhythm Technologies were worth $86,013,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westfield Capital Management Co. LP acquired a new stake in iRhythm Technologies during the first quarter worth about $58,311,000. Champlain Investment Partners LLC boosted its position in iRhythm Technologies by 104.1% in the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after purchasing an additional 293,710 shares in the last quarter. First Light Asset Management LLC boosted its position in iRhythm Technologies by 176.8% in the 1st quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock worth $48,823,000 after purchasing an additional 268,829 shares in the last quarter. Norges Bank acquired a new stake in shares of iRhythm Technologies during the 4th quarter worth approximately $26,522,000. Finally, Capital Research Global Investors increased its holdings in shares of iRhythm Technologies by 5.1% during the 4th quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock valued at $267,132,000 after purchasing an additional 121,709 shares in the last quarter.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $71.51 on Wednesday. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. iRhythm Technologies, Inc. has a 1 year low of $60.88 and a 1 year high of $124.11. The firm has a market capitalization of $2.22 billion, a PE ratio of -16.91 and a beta of 1.22. The business’s 50 day moving average price is $78.60 and its 200-day moving average price is $94.51.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The company had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. During the same quarter last year, the firm posted ($0.61) EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities research analysts expect that iRhythm Technologies, Inc. will post -2.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Oppenheimer dropped their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and issued a $117.00 price target (down previously from $134.00) on shares of iRhythm Technologies in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Wolfe Research upgraded iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Insider Buying and Selling

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the sale, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now owns 37,133 shares of the company’s stock, valued at $2,772,349.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brice Bobzien sold 1,372 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the sale, the chief financial officer now owns 24,428 shares of the company’s stock, valued at $1,718,265.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,476 shares of company stock worth $521,081. 0.68% of the stock is owned by insiders.

iRhythm Technologies 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.