Fuller & Thaler Asset Management Inc. Buys New Holdings in iRhythm Technologies $IRTC

Key Points

• Fuller & Thaler Asset Management Inc. newly acquired 518,240 shares of iRhythm Technologies, valued at approximately $54.2 million, making up 1.62% of the company as of the most recent SEC filing.
• Several institutional investors significantly increased their holdings in iRhythm Technologies during the first quarter, with notable growth from Principal Financial Group Inc. (1,793.7%) and GAMMA Investing LLC (30,928.6%).
• iRhythm Technologies posted a revenue of $186.69 million for the latest quarter, beating analysts' estimates, while its shares recently dropped by 1.7% to $157.93.

Fuller & Thaler Asset Management Inc. bought a new stake in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 518,240 shares of the company's stock, valued at approximately $54,249,000. Fuller & Thaler Asset Management Inc. owned approximately 1.62% of iRhythm Technologies at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IRTC. Principal Financial Group Inc. raised its position in shares of iRhythm Technologies by 1,793.7% in the 1st quarter. Principal Financial Group Inc. now owns 50,449 shares of the company's stock valued at $5,281,000 after purchasing an additional 47,785 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of iRhythm Technologies by 30,928.6% in the 1st quarter. GAMMA Investing LLC now owns 8,688 shares of the company's stock valued at $909,000 after acquiring an additional 8,660 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of iRhythm Technologies by 95.6% in the first quarter. SG Americas Securities LLC now owns 8,427 shares of the company's stock worth $882,000 after acquiring an additional 4,119 shares during the period. Invesco Ltd. raised its holdings in shares of iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company's stock worth $1,731,000 after purchasing an additional 207 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in iRhythm Technologies during the first quarter valued at $222,000.

iRhythm Technologies Trading Up 1.5%

IRTC stock traded up $2.44 during trading on Friday, reaching $169.12. 532,031 shares of the stock were exchanged, compared to its average volume of 561,057. The company has a current ratio of 5.02, a quick ratio of 4.88 and a debt-to-equity ratio of 6.25. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -57.72 and a beta of 1.41. The business has a 50 day moving average price of $147.89 and a 200-day moving average price of $127.88. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $172.59.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.21. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The company had revenue of $186.69 million during the quarter, compared to analysts' expectations of $173.94 million. During the same quarter last year, the firm earned ($0.61) earnings per share. The firm's quarterly revenue was up 26.1% compared to the same quarter last year. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, research analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen cut iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Robert W. Baird boosted their price target on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Citigroup raised their price objective on shares of iRhythm Technologies from $167.00 to $183.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley cut their price objective on shares of iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group raised their price objective on iRhythm Technologies from $139.00 to $170.00 and gave the company a "buy" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of "Buy" and an average target price of $162.64.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, EVP Sumi Shrishrimal sold 653 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $167.12, for a total value of $109,129.36. Following the transaction, the executive vice president owned 34,032 shares of the company's stock, valued at $5,687,427.84. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Marc Wade Rosenbaum sold 226 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $158.93, for a total transaction of $35,918.18. Following the sale, the chief accounting officer owned 10,879 shares in the company, valued at $1,728,999.47. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,425 shares of company stock worth $7,549,869 in the last 90 days. Insiders own 1.10% of the company's stock.

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.