Williamson Legacy Group LLC raised its stake in iRhythm Technologies (NASDAQ:IRTC – Free Report) by 61.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,348 shares of the company’s stock after buying an additional 4,697 shares during the quarter. iRhythm Technologies comprises approximately 1.7% of Williamson Legacy Group LLC’s investment portfolio, making the stock its 19th biggest holding. Williamson Legacy Group LLC’s holdings in iRhythm Technologies were worth $2,191,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in iRhythm Technologies in the third quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC bought a new position in iRhythm Technologies in the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 99 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in iRhythm Technologies in the third quarter valued at approximately $34,000.
Wall Street Analyst Weigh In
IRTC has been the topic of a number of research reports. Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. The Goldman Sachs Group cut their price objective on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Tuesday, April 21st. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Bank of America cut their price objective on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.85.
Insider Buying and Selling at iRhythm Technologies
In other news, Director Abhijit Y. Talwalkar bought 5,312 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the acquisition, the director owned 25,611 shares in the company, valued at approximately $274,293.81. This represents a 26.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Patrick Michael Murphy sold 4,357 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $128.44, for a total transaction of $559,613.08. Following the transaction, the insider owned 63,203 shares in the company, valued at approximately $8,117,793.32. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,826 shares of company stock valued at $2,289,620 in the last 90 days. Company insiders own 0.98% of the company’s stock.
iRhythm Technologies Stock Performance
Shares of IRTC stock opened at $114.45 on Wednesday. The company’s fifty day simple moving average is $118.99 and its 200-day simple moving average is $146.95. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. The firm has a market cap of $3.76 billion, a PE ratio of -133.08 and a beta of 1.33. iRhythm Technologies has a 12 month low of $108.81 and a 12 month high of $212.00.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.21. The business had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.97) earnings per share. Equities research analysts expect that iRhythm Technologies will post 0.13 EPS for the current fiscal year.
About iRhythm Technologies
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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