Y Intercept Hong Kong Ltd Takes $4.68 Million Position in iRhythm Technologies $IRTC

Y Intercept Hong Kong Ltd purchased a new stake in iRhythm Technologies (NASDAQ:IRTC) during the second quarter, according to its most recent filing with the SEC. The firm purchased 30,413 shares of the company’s stock, valued at approximately $4,682,000. Y Intercept Hong Kong Ltd owned 0.10% of iRhythm Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of iRhythm Technologies by 169.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock valued at $94,535,000 after acquiring an additional 568,261 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of iRhythm Technologies by 13.3% in the 1st quarter. Champlain Investment Partners LLC now owns 822,791 shares of the company’s stock valued at $86,130,000 after acquiring an additional 96,529 shares during the period. Blair William & Co. IL increased its holdings in shares of iRhythm Technologies by 30.6% in the 1st quarter. Blair William & Co. IL now owns 789,999 shares of the company’s stock valued at $82,697,000 after acquiring an additional 185,262 shares during the period. Stephens Investment Management Group LLC increased its holdings in shares of iRhythm Technologies by 6.2% in the 2nd quarter. Stephens Investment Management Group LLC now owns 552,916 shares of the company’s stock valued at $85,127,000 after acquiring an additional 32,334 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of iRhythm Technologies in the 1st quarter valued at $54,249,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IRTC shares. Wells Fargo & Company boosted their target price on iRhythm Technologies from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on iRhythm Technologies from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Bank of America started coverage on iRhythm Technologies in a research note on Wednesday, August 20th. They set a “buy” rating and a $200.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group boosted their target price on iRhythm Technologies from $170.00 to $193.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.85.

iRhythm Technologies Stock Down 0.0%

iRhythm Technologies stock opened at $182.67 on Wednesday. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02. The business’s 50-day simple moving average is $175.87 and its two-hundred day simple moving average is $151.23. The company has a market cap of $5.87 billion, a PE ratio of -62.34 and a beta of 1.15. iRhythm Technologies has a fifty-two week low of $67.92 and a fifty-two week high of $188.53.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.21. The business had revenue of $186.69 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, EVP Sumi Shrishrimal sold 653 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $167.12, for a total value of $109,129.36. Following the completion of the transaction, the executive vice president owned 34,032 shares of the company’s stock, valued at $5,687,427.84. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 20,299 shares of the company’s stock, valued at approximately $3,207,647.98. This trade represents a 20.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 47,069 shares of company stock worth $7,627,986. 0.68% of the stock is owned by corporate insiders.

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.