Moody National Bank Trust Division Invests $247,000 in iRhythm Technologies $IRTC

Key Points

• Moody National Bank Trust Division has invested $247,000 in iRhythm Technologies by acquiring 1,602 shares during the second quarter.
• Multiple institutional investors, including Bank Pictet & Cie Europe AG and Wellington Management Group LLP, have significantly increased their stakes in iRhythm Technologies during the fourth quarter.
• Analysts have raised target prices for iRhythm Technologies, with JPMorgan Chase & Co. increasing its target from $145.00 to $190.00, reflecting growing confidence in the company's performance.

Moody National Bank Trust Division acquired a new stake in iRhythm Technologies (NASDAQ:IRTC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,602 shares of the company's stock, valued at approximately $247,000.

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

Analysts Set New Price Targets

IRTC has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on iRhythm Technologies from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Canaccord Genuity Group boosted their target price on iRhythm Technologies from $139.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC upped their target price on shares of iRhythm Technologies from $180.00 to $193.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Wells Fargo & Company lifted their price objective on shares of iRhythm Technologies from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, William Blair upgraded iRhythm Technologies to a "strong-buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $163.82.

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar sold 5,312 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $158.02, for a total value of $839,402.24. Following the sale, the director directly owned 20,299 shares in the company, valued at approximately $3,207,647.98. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel G. Wilson sold 5,000 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $175.00, for a total transaction of $875,000.00. Following the sale, the chief financial officer directly owned 34,470 shares in the company, valued at approximately $6,032,250. The trade was a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,489 shares of company stock valued at $7,834,469 over the last three months. 1.10% of the stock is owned by insiders.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC traded up $9.71 during mid-day trading on Monday, reaching $184.73. 396,299 shares of the company were exchanged, compared to its average volume of 466,455. The stock has a market capitalization of $5.94 billion, a P/E ratio of -63.05 and a beta of 1.10. 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 twelve month low of $55.92 and a twelve month high of $187.57. The company's 50-day simple moving average is $160.32 and its 200-day simple moving average is $137.23.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $186.69 million during the quarter, compared to the consensus estimate of $173.94 million. During the same period in the previous year, the company posted ($0.61) EPS. The firm's quarterly revenue was up 26.1% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, research analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

iRhythm Technologies Company 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.