iRhythm Technologies $IRTC Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in iRhythm by 99.4%, selling 6,548,322 shares in Q4 and now holds 38,534 shares (about 0.12% of the company) valued at approximately $6.84 million.
• Company insiders sold a total of 94,509 shares worth $12.73 million over the last quarter, including sales by Patrick Michael Murphy and EVP Minang Turakhia of roughly 4,357 and 4,027 shares respectively at about $128.45 per share.
• iRhythm beat Q4 expectations with EPS of $0.29 and revenue of $208.9 million (up 27.1% year-over-year), but still posts negative net margin and ROE; analysts rate the stock a "Moderate Buy" with a consensus target of $202.92.

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 99.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,534 shares of the company's stock after selling 6,548,322 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.12% of iRhythm Technologies worth $6,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC acquired a new position in shares of iRhythm Technologies during the 3rd quarter worth about $30,000. Measured Wealth Private Client Group LLC acquired a new stake in iRhythm Technologies in the 3rd quarter valued at about $30,000. GAMMA Investing LLC grew its stake in shares of iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company's stock valued at $33,000 after buying an additional 60 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 99 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at approximately $34,000.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $125.96 on Tuesday. iRhythm Technologies has a 52 week low of $104.53 and a 52 week high of $212.00. The firm has a 50 day moving average of $124.64 and a two-hundred day moving average of $155.37. The stock has a market capitalization of $4.14 billion, a PE ratio of -89.97 and a beta of 1.18. The company has a quick ratio of 4.48, a current ratio of 4.63 and a debt-to-equity ratio of 4.25.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.27. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The business had revenue of $208.89 million for the quarter, compared to analyst estimates of $202.61 million. During the same period last year, the business earned ($0.04) EPS. The company's revenue was up 27.1% on a year-over-year basis. On average, research analysts predict that iRhythm Technologies will post -0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IRTC shares. Morgan Stanley reissued an "overweight" rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Freedom Capital raised shares of iRhythm Technologies to a "strong-buy" rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. dropped their price target on shares of iRhythm Technologies from $240.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $244.00 price target on shares of iRhythm Technologies in a research note on Monday, January 12th. Finally, Truist Financial dropped their price target on shares of iRhythm Technologies from $200.00 to $170.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $202.92.

Insider Transactions at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 4,357 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $128.44, for a total value of $559,613.08. Following the completion of the sale, the insider directly owned 63,203 shares of the company's stock, valued at $8,117,793.32. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Minang Turakhia sold 4,027 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $128.45, for a total transaction of $517,268.15. Following the completion of the sale, the executive vice president directly owned 54,906 shares of the company's stock, valued at approximately $7,052,675.70. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 94,509 shares of company stock valued at $12,734,195 over the last quarter. 0.68% of the stock is owned by corporate insiders.

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company's flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm's digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.

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