Fuller & Thaler Asset Management Inc. Takes $54.25 Million Position 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. purchased a new position in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northern Trust Corp boosted its holdings in shares of iRhythm Technologies by 1.6% during the 1st quarter. Northern Trust Corp now owns 292,009 shares of the company's stock worth $30,568,000 after buying an additional 4,675 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of iRhythm Technologies by 8.5% during the 1st quarter. Raymond James Financial Inc. now owns 110,126 shares of the company's stock worth $11,528,000 after buying an additional 8,639 shares in the last quarter. Nuveen LLC bought a new position in shares of iRhythm Technologies during the 1st quarter worth approximately $9,707,000. Frank Rimerman Advisors LLC acquired a new position in shares of iRhythm Technologies during the first quarter worth approximately $214,000. Finally, Blair William & Co. IL raised its position in shares of iRhythm Technologies by 30.6% during the first quarter. Blair William & Co. IL now owns 789,999 shares of the company's stock worth $82,697,000 after purchasing an additional 185,262 shares during the period.

Insider Activity

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar sold 5,312 shares of iRhythm Technologies stock in a transaction on Monday, August 11th. The shares were sold at an average price of $158.02, for a total transaction of $839,402.24. Following the transaction, the director directly owned 20,299 shares of the company's stock, valued at $3,207,647.98. The trade was a 20.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel G. Wilson sold 3,000 shares of iRhythm Technologies stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $450,000.00. Following the transaction, the chief financial officer directly owned 40,307 shares in the company, valued at $6,046,050. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,425 shares of company stock worth $7,549,869. Company insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRTC. Robert W. Baird upped their target price on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. William Blair raised iRhythm Technologies to a "strong-buy" rating in a research report on Friday, August 1st. Citigroup upped their target price on iRhythm Technologies from $167.00 to $183.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley lowered their target price on iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Finally, Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. One 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, the company presently has a consensus rating of "Buy" and an average target price of $162.64.

iRhythm Technologies Stock Up 1.5%

IRTC traded up $2.44 during mid-day trading on Friday, reaching $169.12. 532,031 shares of the stock were exchanged, compared to its average volume of 578,427. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02. The stock has a market capitalization of $5.43 billion, a PE ratio of -57.72 and a beta of 1.41. The company has a 50 day moving average price of $147.89 and a two-hundred day moving average price of $128.13. 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 quarterly earnings data on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.21. The firm had revenue of $186.69 million for the quarter, compared to the consensus estimate of $173.94 million. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The business's revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, research analysts anticipate 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.