Cookson Peirce & Co. Inc. Invests $1.09 Million in iRhythm Technologies $IRTC

Key Points

• Cookson Peirce & Co. Inc. invested approximately $1.09 million in iRhythm Technologies by acquiring 7,072 shares during the second quarter.
• Multiple institutional investors have recently established or adjusted their stakes in iRhythm Technologies, with some purchasing stakes valued at up to $50,000.
• Analysts have varied opinions on iRhythm Technologies, with price targets ranging from $147.00 to $205.00 and an average rating of "Moderate Buy."

Cookson Peirce & Co. Inc. acquired a new position in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,072 shares of the company's stock, valued at approximately $1,089,000.

Other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC bought a new stake in shares of iRhythm Technologies during the first quarter worth approximately $25,000. AlphaQuest LLC bought a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $50,000. CWM LLC boosted its stake in shares of iRhythm Technologies by 54.3% in the first quarter. CWM LLC now owns 517 shares of the company's stock valued at $54,000 after buying an additional 182 shares during the period. Finally, US Bancorp DE boosted its stake in shares of iRhythm Technologies by 61.9% in the first quarter. US Bancorp DE now owns 978 shares of the company's stock valued at $102,000 after buying an additional 374 shares during the period.

Wall Street Analyst Weigh In

IRTC has been the subject of several recent research reports. Citigroup boosted their price target on iRhythm Technologies from $183.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Morgan Stanley cut their price target on iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of iRhythm Technologies in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on shares of iRhythm Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of iRhythm Technologies from $158.00 to $180.00 and gave the company a "neutral" rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $184.85.

iRhythm Technologies Stock Down 0.7%

Shares of IRTC opened at $176.87 on Thursday. iRhythm Technologies has a 52 week low of $67.92 and a 52 week high of $187.57. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of -60.36 and a beta of 1.15. 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 stock has a fifty day moving average of $174.09 and a 200-day moving average of $148.26.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.21. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The company had revenue of $186.69 million during the quarter, compared to analysts' expectations of $173.94 million. During the same period in the prior year, the company earned ($0.61) EPS. iRhythm Technologies's revenue was up 26.1% compared to the same quarter last year. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 5,312 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $158.02, for a total transaction of $839,402.24. Following the completion of the transaction, the director directly owned 20,299 shares of the company's stock, valued at $3,207,647.98. This trade represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 30,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $160.54, for a total value of $4,816,200.00. Following the transaction, the chief executive officer directly owned 179,038 shares of the company's stock, valued at approximately $28,742,760.52. This represents a 14.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,069 shares of company stock worth $7,627,986 in the last ninety days. Insiders own 1.10% of the company's stock.

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.

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