iRhythm Technologies $IRTC Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL diminished its stake in iRhythm Technologies by 6.4%, now holding approximately 739,331 shares valued at $113.8 million.
• Analysts upgrade: iRhythm Technologies received upgraded ratings from multiple analysts, including a "strong-buy" from William Blair and a price target increase from JPMorgan Chase to $190.00.
• In the most recent quarter, iRhythm Technologies reported revenue of $186.69 million, exceeding analyst expectations, with a notable 26.1% year-over-year growth.

Blair William & Co. IL lowered its stake in iRhythm Technologies (NASDAQ:IRTC - Free Report) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 739,331 shares of the company's stock after selling 50,668 shares during the period. Blair William & Co. IL owned approximately 2.32% of iRhythm Technologies worth $113,827,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of iRhythm Technologies during the first quarter worth $54,249,000. Cim Investment Management Inc. increased its stake in iRhythm Technologies by 97.6% in the 1st quarter. Cim Investment Management Inc. now owns 11,530 shares of the company's stock worth $1,122,000 after purchasing an additional 5,696 shares in the last quarter. Principal Financial Group Inc. raised its holdings in iRhythm Technologies by 1,793.7% during the 1st quarter. Principal Financial Group Inc. now owns 50,449 shares of the company's stock worth $5,281,000 after buying an additional 47,785 shares during the period. Northern Trust Corp lifted its stake in iRhythm Technologies by 1.6% during the first quarter. Northern Trust Corp now owns 292,009 shares of the company's stock valued at $30,568,000 after buying an additional 4,675 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of iRhythm Technologies by 30,928.6% in the first quarter. GAMMA Investing LLC now owns 8,688 shares of the company's stock worth $909,000 after buying an additional 8,660 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IRTC shares. William Blair upgraded shares of iRhythm Technologies to a "strong-buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of iRhythm Technologies from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Evercore ISI cut their target price on shares of iRhythm Technologies from $185.00 to $175.00 and set an "in-line" rating on the stock in a research note on Tuesday. Bank of America began coverage on iRhythm Technologies in a research report on Wednesday, August 20th. They issued a "buy" rating and a $200.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on iRhythm Technologies from $170.00 to $193.00 and gave the company a "buy" rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $173.17.

iRhythm Technologies Trading Up 0.8%

Shares of NASDAQ:IRTC opened at $179.00 on Thursday. The firm has a fifty day moving average of $170.35 and a two-hundred day moving average of $143.24. The company has a quick ratio of 4.88, a current ratio of 5.02 and a debt-to-equity ratio of 6.25. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $187.57. The firm has a market capitalization of $5.75 billion, a P/E ratio of -61.09 and a beta of 1.15.

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 (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.21. The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.iRhythm Technologies's quarterly revenue was up 26.1% compared to the same quarter last year. During the same period last year, the company earned ($0.61) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, equities analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Activity at iRhythm Technologies

In other news, CAO Marc Wade Rosenbaum sold 226 shares of iRhythm Technologies stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $158.93, for a total transaction of $35,918.18. Following the completion of the sale, the chief accounting officer directly owned 10,879 shares in the company, valued at $1,728,999.47. The trade was a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chad Patterson sold 2,555 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $158.97, for a total value of $406,168.35. Following the completion of the transaction, the insider owned 43,667 shares in the company, valued at $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 three months, insiders sold 47,069 shares of company stock worth $7,627,986. 1.10% of the stock is currently owned by corporate insiders.

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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