Bessemer Group Inc. Has $60.09 Million Stock Holdings in iRhythm Technologies (NASDAQ:IRTC)

Bessemer Group Inc. grew its holdings in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 574,053 shares of the company's stock after acquiring an additional 6,046 shares during the quarter. Bessemer Group Inc. owned 1.83% of iRhythm Technologies worth $60,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IRTC. Bank Pictet & Cie Europe AG increased its position in iRhythm Technologies by 5.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock worth $297,000 after purchasing an additional 184 shares in the last quarter. Invesco Ltd. increased 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 buying an additional 207 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of iRhythm Technologies by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company's stock worth $295,000 after buying an additional 210 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of iRhythm Technologies by 5.9% in the 4th quarter. Handelsbanken Fonder AB now owns 10,839 shares of the company's stock valued at $977,000 after acquiring an additional 600 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of iRhythm Technologies by 20.1% during the 4th quarter. Ancora Advisors LLC now owns 4,000 shares of the company's stock valued at $361,000 after acquiring an additional 670 shares in the last quarter.

Insider Transactions at iRhythm Technologies

In other news, insider Chad Patterson sold 936 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $150.00, for a total value of $140,400.00. Following the completion of the sale, the insider now directly owns 48,929 shares in the company, valued at $7,339,350. This trade represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel G. Wilson sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total value of $450,000.00. Following the transaction, the chief financial officer now directly owns 40,307 shares in the company, valued at approximately $6,046,050. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

iRhythm Technologies Trading Up 1.3%

Shares of IRTC traded up $2.02 during trading hours on Friday, hitting $154.71. 548,723 shares of the stock were exchanged, compared to its average volume of 483,394. The firm has a market capitalization of $4.94 billion, a P/E ratio of -49.27 and a beta of 1.40. The company has a debt-to-equity ratio of 7.47, a current ratio of 5.71 and a quick ratio of 5.58. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $161.22. The business has a 50-day moving average of $135.32 and a 200-day moving average of $113.60.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The business's revenue was up 20.3% on a year-over-year basis. During the same period last year, the business posted ($1.23) earnings per share. On average, research analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup upped their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, Needham & Company LLC upped their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, iRhythm Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $138.60.

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.