R Squared Ltd Makes New $404,000 Investment in iRhythm Technologies $IRTC

R Squared Ltd bought a new position in iRhythm Technologies (NASDAQ:IRTC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,621 shares of the company’s stock, valued at approximately $404,000.

A number of other institutional investors have also recently added to or reduced their stakes in IRTC. MCF Advisors LLC acquired a new stake in iRhythm Technologies in the first quarter worth approximately $25,000. AlphaQuest LLC acquired a new stake in iRhythm Technologies in the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in iRhythm Technologies in the first quarter worth approximately $50,000. CWM LLC lifted its position in iRhythm Technologies by 54.3% in the first quarter. CWM LLC now owns 517 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares during the period. Finally, US Bancorp DE lifted its position in iRhythm Technologies by 61.9% in the first quarter. US Bancorp DE now owns 978 shares of the company’s stock worth $102,000 after purchasing an additional 374 shares during the period.

Insider Buying and Selling

In other news, CAO Marc Wade Rosenbaum sold 226 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $158.93, for a total value of $35,918.18. Following the completion of the sale, the chief accounting officer owned 10,879 shares in the company, valued at $1,728,999.47. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $158.02, for a total value of $839,402.24. Following the completion of the sale, the director owned 20,299 shares of the company’s stock, valued at $3,207,647.98. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,069 shares of company stock valued at $7,627,986. 1.10% of the stock is currently owned by company insiders.

iRhythm Technologies Price Performance

IRTC opened at $180.61 on Friday. The stock has a fifty day moving average of $174.89 and a 200-day moving average of $149.40. The firm has a market capitalization of $5.80 billion, a P/E ratio of -61.64 and a beta of 1.15. iRhythm Technologies has a 12-month low of $67.92 and a 12-month high of $187.57. The company has a quick ratio of 4.88, a current ratio of 5.02 and a debt-to-equity ratio of 6.25.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.21. The company had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities analysts forecast that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley cut their price objective on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Truist Financial increased their price objective on iRhythm Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. increased their price objective on iRhythm Technologies from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. William Blair upgraded iRhythm Technologies to a “strong-buy” rating in a research report on Friday, August 1st. Finally, Needham & Company LLC increased their price objective on iRhythm Technologies from $180.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.85.

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.