Mutual of America Capital Management LLC Acquires 1,925 Shares of iRhythm Technologies $IRTC

Key Points

• Mutual of America Capital Management LLC increased its holdings in iRhythm Technologies by 9.3%, acquiring an additional 1,925 shares to total 22,652 shares, valued at approximately $3.49 million.
• iRhythm Technologies reported a quarterly earnings EPS of ($0.32), surpassing the expected EPS of ($0.53), along with a revenue increase of 26.1% year-over-year to $186.69 million.
• Analysts across the board have raised their price targets for iRhythm Technologies, with targets ranging from $170.00 to $193.00, while maintaining a consensus rating of "Moderate Buy".

Mutual of America Capital Management LLC lifted its holdings in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 9.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 22,652 shares of the company's stock after acquiring an additional 1,925 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of iRhythm Technologies worth $3,488,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRTC. MCF Advisors LLC bought a new position in shares of iRhythm Technologies during the 1st quarter worth about $25,000. AlphaQuest LLC bought a new position in shares of iRhythm Technologies during the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of iRhythm Technologies during the 1st quarter worth about $50,000. CWM LLC lifted its holdings in shares of iRhythm Technologies by 54.3% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after acquiring an additional 182 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of iRhythm Technologies by 61.9% during the 1st quarter. US Bancorp DE now owns 978 shares of the company's stock worth $102,000 after acquiring an additional 374 shares during the period.

iRhythm Technologies Stock Up 3.1%

Shares of NASDAQ:IRTC opened at $182.27 on Friday. iRhythm Technologies has a one year low of $67.92 and a one year high of $187.57. The company has a 50 day moving average of $174.49 and a 200-day moving average of $148.83. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -62.21 and a beta of 1.15.

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

Insider Activity

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar sold 5,312 shares of iRhythm Technologies 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 transaction, the director owned 20,299 shares of the company's stock, valued at approximately $3,207,647.98. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel G. Wilson sold 5,000 shares of iRhythm Technologies stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $175.00, for a total transaction of $875,000.00. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 47,069 shares of company stock valued at $7,627,986. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IRTC has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of iRhythm Technologies in a report on Wednesday, October 8th. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $170.00 to $193.00 and gave the company a "buy" rating in a report on Monday, September 29th. JPMorgan Chase & Co. lifted their price target 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. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $180.00 to $193.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, William Blair raised shares of 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, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $184.85.

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.

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