Bessemer Group Inc. Buys 6,046 Shares of 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.

Other institutional investors have also recently bought and sold shares of the company. Raiffeisen Bank International AG acquired a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $60,000. Avanza Fonder AB acquired a new position in shares of iRhythm Technologies in the first quarter valued at approximately $123,000. SeaCrest Wealth Management LLC acquired a new position in shares of iRhythm Technologies in the first quarter valued at approximately $212,000. Xponance Inc. acquired a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $203,000. Finally, LPL Financial LLC acquired a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $243,000.

Insiders Place Their Bets

In related news, CFO Daniel G. Wilson sold 3,000 shares of the stock in a transaction 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 $6,046,050. This trade represents a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Patterson sold 936 shares of the stock in a transaction on 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 transaction, the insider now owns 48,929 shares in the company, valued at approximately $7,339,350. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

iRhythm Technologies Trading Up 1.3%

NASDAQ:IRTC traded up $2.02 on Friday, reaching $154.71. 548,723 shares of the stock traded hands, compared to its average volume of 482,705. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -49.27 and a beta of 1.40. The company's 50 day moving average is $136.39 and its 200-day moving average is $114.42. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $154.93.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The business had revenue of $158.68 million for 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%. iRhythm Technologies's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.23) earnings per share. Equities research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

IRTC has been the subject of several recent research reports. 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. Wall Street Zen downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Robert W. Baird upped their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Citigroup increased their target price on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley increased their target price on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.60.

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.