UBS Group AG Has $27.19 Million Stock Position in iRhythm Technologies $IRTC

Key Points

• UBS Group AG significantly increased its iRhythm Technologies stake in the fourth quarter, lifting holdings by 190.3% to 153,218 shares worth about $27.2 million.
• iRhythm insiders have been selling stock: CEO Quentin S. Blackford and EVP Sumi Shrishrimal both sold shares, and insiders sold 94,509 shares total over the last three months.
• The company reported better-than-expected quarterly results, with EPS of -$0.35 versus the -$0.56 estimate and revenue of $199.39 million, up 25.6% year over year, while analysts currently rate the stock a Moderate Buy with a consensus price target of $193.38.

UBS Group AG raised its holdings in iRhythm Technologies (NASDAQ:IRTC - Free Report) by 190.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 153,218 shares of the company's stock after acquiring an additional 100,435 shares during the quarter. UBS Group AG owned approximately 0.48% of iRhythm Technologies worth $27,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in iRhythm Technologies in the 3rd quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC bought a new stake in shares of iRhythm Technologies in the 3rd quarter valued at $30,000. GAMMA Investing LLC boosted its stake in shares of iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company's stock valued at $33,000 after purchasing an additional 60 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of iRhythm Technologies in the 3rd quarter valued at $34,000.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 25,540 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total value of $3,458,626.80. Following the transaction, the chief executive officer directly owned 186,126 shares of the company's stock, valued at approximately $25,205,182.92. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sumi Shrishrimal sold 6,217 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total transaction of $841,906.14. Following the completion of the transaction, the executive vice president directly owned 39,182 shares in the company, valued at $5,306,026.44. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 94,509 shares of company stock valued at $12,734,195. Corporate insiders own 0.98% of the company's stock.

iRhythm Technologies Stock Down 3.4%

Shares of NASDAQ IRTC opened at $120.66 on Friday. The firm has a market cap of $3.96 billion, a PE ratio of -140.30 and a beta of 1.33. iRhythm Technologies has a 12-month low of $112.31 and a 12-month high of $212.00. The company's fifty day simple moving average is $121.56 and its 200 day simple moving average is $153.03. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.21. The business had revenue of $199.39 million for the quarter, compared to analyst estimates of $194.11 million. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. iRhythm Technologies's revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.97) earnings per share. As a group, sell-side analysts forecast that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IRTC shares. Morgan Stanley reaffirmed an "overweight" rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of iRhythm Technologies in a research report on Tuesday, April 21st. Wall Street Zen raised iRhythm Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, May 3rd. JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Finally, Freedom Capital raised iRhythm Technologies to a "strong-buy" rating in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $193.38.

iRhythm Technologies Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company's flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm's digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.

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