2,502 Shares in iRhythm Technologies (NASDAQ:IRTC) Purchased by Caas Capital Management LP

Caas Capital Management LP purchased a new position in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,502 shares of the company's stock, valued at approximately $262,000.

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

Analyst Upgrades and Downgrades

IRTC has been the topic of several research reports. Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley increased their price target on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Needham & Company LLC increased their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $104.00 to $130.00 in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.60.

Insider Activity

In related news, CFO Daniel G. Wilson sold 3,000 shares of iRhythm Technologies stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer owned 40,307 shares in the company, valued at approximately $6,046,050. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chad Patterson sold 936 shares of iRhythm Technologies 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 sale, the insider owned 48,929 shares of the company's stock, valued at approximately $7,339,350. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,356 shares of company stock worth $796,882 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC traded up $1.23 during mid-day trading on Friday, hitting $135.94. 562,298 shares of the company were exchanged, compared to its average volume of 489,235. The company has a quick ratio of 5.58, a current ratio of 5.71 and a debt-to-equity ratio of 7.47. The stock has a 50 day simple moving average of $142.96 and a 200-day simple moving average of $117.31. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $157.13. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of -43.29 and a beta of 1.41.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings results 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). iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The company had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. During the same period in the prior year, the business earned ($1.23) earnings per share. iRhythm Technologies's revenue for the quarter was up 20.3% compared to the same quarter last year. On average, sell-side analysts forecast that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

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.