Peregrine Capital Management LLC Sells 12,027 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Peregrine Capital Management LLC trimmed its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,501 shares of the company's stock after selling 12,027 shares during the period. Peregrine Capital Management LLC owned about 0.23% of iRhythm Technologies worth $7,439,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in shares of iRhythm Technologies by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company's stock worth $111,425,000 after acquiring an additional 41,052 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in iRhythm Technologies in the third quarter worth $1,046,000. Braidwell LP grew its holdings in shares of iRhythm Technologies by 18.7% during the third quarter. Braidwell LP now owns 568,157 shares of the company's stock worth $53,554,000 after purchasing an additional 89,600 shares during the last quarter. TD Asset Management Inc increased its stake in shares of iRhythm Technologies by 48.4% in the third quarter. TD Asset Management Inc now owns 33,904 shares of the company's stock valued at $3,196,000 after buying an additional 11,052 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of iRhythm Technologies in the third quarter valued at $7,779,000.

Insider Buying and Selling

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $153,791.56. Following the sale, the executive vice president now owns 32,967 shares of the company's stock, valued at approximately $4,020,655.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Daniel G. Wilson sold 1,261 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the transaction, the executive vice president now owns 32,967 shares in the company, valued at $4,020,655.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mark J. Day sold 1,475 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $179,891.00. Following the completion of the transaction, the chief technology officer now directly owns 64,412 shares of the company's stock, valued at approximately $7,855,687.52. The disclosure for this sale can be found here. Insiders have sold a total of 35,052 shares of company stock worth $4,274,942 over the last ninety days. Company insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $136.00 to $137.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Truist Financial boosted their target price on iRhythm Technologies from $115.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, December 22nd. Canaccord Genuity Group raised their price target on iRhythm Technologies from $121.00 to $133.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of iRhythm Technologies from $142.00 to $133.00 and set an "overweight" rating for the company in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $135.11.

iRhythm Technologies Trading Up 1.4 %

iRhythm Technologies stock traded up $1.55 during midday trading on Wednesday, hitting $114.74. 495,573 shares of the stock were exchanged, compared to its average volume of 448,597. The stock has a market capitalization of $3.55 billion, a PE ratio of -27.29 and a beta of 1.30. The company has a fifty day simple moving average of $112.73 and a two-hundred day simple moving average of $100.13. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17. iRhythm Technologies, Inc. has a 52 week low of $70.24 and a 52 week high of $140.23.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. The firm had revenue of $132.51 million for the quarter, compared to the consensus estimate of $131.14 million. Equities research analysts anticipate that iRhythm Technologies, Inc. will post -3.14 EPS for the current fiscal year.

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.