Caas Capital Management LP Invests $262,000 in iRhythm Technologies (NASDAQ:IRTC)

Caas Capital Management LP bought a new position in iRhythm Technologies (NASDAQ:IRTC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 2,502 shares of the company's stock, valued at approximately $262,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 worth $909,000 after purchasing an additional 8,660 shares during the period. SG Americas Securities LLC boosted its holdings in shares of iRhythm Technologies by 95.6% in the 1st quarter. SG Americas Securities LLC now owns 8,427 shares of the company's stock worth $882,000 after purchasing an additional 4,119 shares during the period. Invesco Ltd. boosted its holdings in shares of iRhythm Technologies by 1.1% in the 4th 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 period. PNC Financial Services Group Inc. boosted its holdings in shares of iRhythm Technologies by 32.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock worth $449,000 after purchasing an additional 1,215 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in iRhythm Technologies by 13.6% during the 4th quarter. Ameriprise Financial Inc. now owns 71,254 shares of the company's stock valued at $6,425,000 after acquiring an additional 8,528 shares during the period.

Insider Transactions at iRhythm Technologies

In other news, EVP Minang Turakhia sold 1,420 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $145.41, for a total value of $206,482.20. Following the completion of the transaction, the executive vice president directly owned 41,393 shares of the company's stock, valued at approximately $6,018,956.13. The trade was a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel G. Wilson sold 3,000 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $150.00, for a total value 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. In the last three months, insiders sold 5,356 shares of company stock valued at $796,882. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IRTC shares. Wall Street Zen downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Citigroup upped their price objective on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group cut their price objective on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Finally, Needham & Company LLC lifted their target price on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One investment 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.60.

iRhythm Technologies Trading Up 1.4%

IRTC opened at $134.71 on Friday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -42.90 and a beta of 1.41. 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 12 month low of $55.92 and a 12 month high of $157.13. The stock has a fifty day moving average price of $142.96 and a 200-day moving average price of $117.31.

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

iRhythm Technologies Company 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.

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