Diversified Trust Co Lowers Stock Holdings in iRhythm Technologies $IRTC

Key Points

• Diversified Trust Co reduced its stake in iRhythm Technologies by 16.2%, owning 7,495 shares worth approximately $1.15 million after selling 1,449 shares in Q2.
• Insider Sumi Shrishrimal and another executive sold a total of 3,208 shares recently, reflecting a decrease in their stock positions by 1.88% and 5.53%, respectively.
• iRhythm Technologies reported a 26.1% increase in quarterly revenue year-over-year, totaling $186.69 million, while also beating earnings expectations.

Diversified Trust Co cut its stake in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,495 shares of the company's stock after selling 1,449 shares during the period. Diversified Trust Co's holdings in iRhythm Technologies were worth $1,154,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Xponance Inc. grew its stake in shares of iRhythm Technologies by 6.1% during the 1st quarter. Xponance Inc. now owns 2,390 shares of the company's stock valued at $250,000 after buying an additional 137 shares during the period. Hsbc Holdings PLC grew its stake in shares of iRhythm Technologies by 3.1% during the 1st quarter. Hsbc Holdings PLC now owns 4,590 shares of the company's stock valued at $474,000 after buying an additional 138 shares during the period. CWM LLC grew its stake in shares of iRhythm Technologies by 54.3% during the 1st 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. Bank Pictet & Cie Europe AG grew its stake in shares of iRhythm Technologies by 5.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after buying an additional 184 shares during the period. Finally, MCF Advisors LLC purchased a new stake in shares of iRhythm Technologies during the 1st quarter valued at $25,000.

Insider Buying and Selling at iRhythm Technologies

In related news, EVP Sumi Shrishrimal sold 653 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $167.12, for a total transaction of $109,129.36. Following the completion of the sale, the executive vice president owned 34,032 shares of the company's stock, valued at $5,687,427.84. This represents a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chad Patterson sold 2,555 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $158.97, for a total transaction of $406,168.35. Following the sale, the insider directly owned 43,667 shares of the company's stock, valued at approximately $6,941,742.99. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,489 shares of company stock worth $7,834,469. 1.10% of the stock is owned by company insiders.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $175.02 on Monday. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $187.57. The firm's 50-day simple moving average is $160.32 and its 200-day simple moving average is $137.23. The firm has a market cap of $5.62 billion, a PE ratio of -59.73 and a beta of 1.10.

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

Analyst Ratings Changes

Several analysts have recently issued reports on IRTC shares. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $180.00 to $193.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of iRhythm Technologies from $145.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, August 1st. William Blair upgraded shares of iRhythm Technologies to a "strong-buy" rating in a report on Friday, August 1st. Morgan Stanley reduced their target price on shares of iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Finally, Citigroup lifted their target price on shares of iRhythm Technologies from $167.00 to $183.00 and gave the company a "buy" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $163.82.

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.

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