Silver Oak Securities Incorporated Takes Position in iRhythm Technologies (NASDAQ:IRTC)

Silver Oak Securities Incorporated acquired a new position in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,863 shares of the company's stock, valued at approximately $301,000.

Several other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position 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 purchasing an additional 47,785 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in iRhythm Technologies during the 1st quarter worth approximately $479,000. Kampmann Melissa S. grew its position in iRhythm Technologies by 4.6% during the 1st quarter. Kampmann Melissa S. now owns 25,025 shares of the company's stock worth $2,620,000 after purchasing an additional 1,100 shares during the last quarter. Diversified Trust Co grew its position in iRhythm Technologies by 8.1% during the 1st quarter. Diversified Trust Co now owns 8,944 shares of the company's stock worth $936,000 after purchasing an additional 668 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in iRhythm Technologies by 1.1% during the 1st quarter. Bessemer Group Inc. now owns 574,053 shares of the company's stock worth $60,092,000 after purchasing an additional 6,046 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Daniel G. Wilson sold 3,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $150.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer directly owned 40,307 shares in the company, valued at approximately $6,046,050. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Minang Turakhia sold 1,420 shares of iRhythm Technologies stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total transaction of $206,482.20. Following the sale, the executive vice president owned 41,393 shares of the company's stock, valued at approximately $6,018,956.13. This represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,356 shares of company stock worth $796,882. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on IRTC shares. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $104.00 to $130.00 in a report on Friday, May 2nd. Morgan Stanley upped their price objective on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Wall Street Zen downgraded shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Citigroup upped their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.60.

iRhythm Technologies Price Performance

IRTC traded up $1.83 during midday trading on Thursday, hitting $134.71. 459,775 shares of the company traded hands, compared to its average volume of 472,252. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -42.90 and a beta of 1.41. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $157.13. The business has a 50 day simple moving average of $142.44 and a two-hundred day simple moving average of $116.99.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The company had revenue of $158.68 million for the quarter, compared to analysts' expectations of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. The business's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.23) earnings per share. On average, equities analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal 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.