iRhythm Technologies (NASDAQ:IRTC) Shares Acquired by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lifted its holdings in iRhythm Technologies (NASDAQ:IRTC - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 520,582 shares of the company's stock after acquiring an additional 17,657 shares during the period. Stephens Investment Management Group LLC owned approximately 1.63% of iRhythm Technologies worth $54,495,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Stephens Inc. AR acquired a new stake in shares of iRhythm Technologies in the first quarter worth $222,000. New York State Common Retirement Fund boosted its stake in shares of iRhythm Technologies by 26.1% in the first quarter. New York State Common Retirement Fund now owns 160,886 shares of the company's stock valued at $16,842,000 after purchasing an additional 33,307 shares during the period. Caas Capital Management LP purchased a new position in shares of iRhythm Technologies in the first quarter valued at $262,000. Xponance Inc. boosted its stake in shares of iRhythm Technologies by 6.1% in the first quarter. Xponance Inc. now owns 2,390 shares of the company's stock valued at $250,000 after purchasing an additional 137 shares during the period. Finally, Values First Advisors Inc. boosted its stake in shares of iRhythm Technologies by 11.0% in the first quarter. Values First Advisors Inc. now owns 6,203 shares of the company's stock valued at $650,000 after purchasing an additional 615 shares during the period.

iRhythm Technologies Stock Up 2.3%

NASDAQ IRTC traded up $3.08 during trading hours on Wednesday, reaching $137.00. 457,811 shares of the company traded hands, compared to its average volume of 490,328. The stock has a market capitalization of $4.37 billion, a PE ratio of -43.63 and a beta of 1.41. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $157.13. The company has a 50 day moving average of $143.10 and a two-hundred day moving average of $118.48. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47.

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 analysts' consensus estimates 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%. The firm's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period last year, the company posted ($1.23) earnings per share. As a group, equities analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Citigroup upped their target price on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. Finally, Needham & Company LLC upped their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.30.

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.