Stephens Inc. AR Makes New Investment in iRhythm Technologies (NASDAQ:IRTC)

Stephens Inc. AR acquired a new position in iRhythm Technologies (NASDAQ:IRTC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,122 shares of the company's stock, valued at approximately $222,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted 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 purchasing an additional 8,660 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of iRhythm Technologies by 1,793.7% during the 1st quarter. Principal Financial Group Inc. now owns 50,449 shares of the company's stock valued at $5,281,000 after buying an additional 47,785 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of iRhythm Technologies by 95.6% during the 1st quarter. SG Americas Securities LLC now owns 8,427 shares of the company's stock valued at $882,000 after buying an additional 4,119 shares in the last quarter. Invesco Ltd. lifted its position in shares of iRhythm Technologies by 1.1% during the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after buying an additional 207 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of iRhythm Technologies during the 1st quarter valued at approximately $212,000.

Analyst Ratings Changes

IRTC has been the topic of a number of recent analyst reports. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Morgan Stanley cut their target price on iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Needham & Company LLC raised their target price on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $104.00 to $130.00 in a research report on Friday, May 2nd. Finally, Citigroup raised their price objective on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, iRhythm Technologies has an average rating of "Moderate Buy" and an average price target of $137.30.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $136.24 on Monday. The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $157.13. The firm has a market capitalization of $4.35 billion, a PE ratio of -43.39 and a beta of 1.41. The stock's 50-day simple moving average is $143.06 and its 200-day simple moving average is $119.68.

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

Insiders Place Their Bets

In other iRhythm Technologies news, CFO Daniel G. Wilson sold 3,000 shares of iRhythm Technologies stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $450,000.00. Following the transaction, the chief financial officer owned 40,307 shares of the company's stock, valued at $6,046,050. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chad Patterson sold 936 shares of iRhythm Technologies stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total value of $140,400.00. Following the transaction, the insider directly owned 48,929 shares in the company, valued at approximately $7,339,350. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,356 shares of company stock valued at $796,882 over the last quarter. Company insiders own 0.68% of the company's stock.

About iRhythm Technologies

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.

Want to see what other hedge funds are holding IRTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iRhythm Technologies (NASDAQ:IRTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.