Amundi Sells 7,054 Shares of iRhythm Technologies $IRTC

Key Points

• Amundi has reduced its position in iRhythm Technologies by 6.9%, now owning approximately 95,854 shares valued at $10,153,000.
• Multiple institutional investors have increased their stakes in iRhythm Technologies, with Champlain Investment Partners raising its stake by 13.3% and Blair William & Co. IL increasing by 30.6%.
• Analysts have optimistic views on iRhythm Technologies, with several firms raising price targets, setting an average consensus target price of $163.82 and maintaining a general rating of "Buy".

Amundi decreased its holdings in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,854 shares of the company's stock after selling 7,054 shares during the period. Amundi owned approximately 0.30% of iRhythm Technologies worth $10,153,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Champlain Investment Partners LLC boosted its holdings in iRhythm Technologies by 13.3% in the 1st quarter. Champlain Investment Partners LLC now owns 822,791 shares of the company's stock valued at $86,130,000 after purchasing an additional 96,529 shares in the last quarter. Blair William & Co. IL raised its position in shares of iRhythm Technologies by 30.6% during the 1st 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 last quarter. Bessemer Group Inc. grew its stake in iRhythm Technologies by 1.1% in the 1st quarter. Bessemer Group Inc. now owns 574,053 shares of the company's stock worth $60,092,000 after acquiring an additional 6,046 shares during the period. Stephens Investment Management Group LLC grew its stake in iRhythm Technologies by 3.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 520,582 shares of the company's stock worth $54,495,000 after acquiring an additional 17,657 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in iRhythm Technologies in the 1st quarter worth approximately $54,249,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRTC. JPMorgan Chase & Co. upped their price target on shares of iRhythm Technologies from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC increased their price target on shares of iRhythm Technologies from $180.00 to $193.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Bank of America assumed coverage on shares of iRhythm Technologies in a report on Wednesday, August 20th. They issued a "buy" rating and a $200.00 target price on the stock. Canaccord Genuity Group raised their price target on shares of iRhythm Technologies from $139.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company raised their price objective on shares of iRhythm Technologies from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $163.82.

iRhythm Technologies Stock Down 0.7%

Shares of iRhythm Technologies stock traded down $1.21 during midday trading on Friday, reaching $179.82. 232,437 shares of the company's stock traded hands, compared to its average volume of 385,324. The company has a market cap of $5.78 billion, a price-to-earnings ratio of -61.37 and a beta of 1.10. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $187.57. 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 company's 50 day simple moving average is $156.38 and its 200 day simple moving average is $134.66.

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 the consensus estimate of ($0.53) by $0.21. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The company had revenue of $186.69 million for the quarter, compared to the consensus estimate of $173.94 million. During the same quarter in the previous year, the firm posted ($0.61) EPS. The business's revenue was up 26.1% compared to the same quarter last year. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In related news, EVP Sumi Shrishrimal sold 653 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $167.12, for a total transaction of $109,129.36. Following the completion of the sale, the executive vice president directly owned 34,032 shares of the company's stock, valued at $5,687,427.84. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Marc Wade Rosenbaum sold 226 shares of the business's stock in a transaction that occurred on 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 directly owned 10,879 shares of the company's stock, valued at approximately $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 a total of 52,425 shares of company stock valued at $8,424,869 over the last 90 days. Company 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.