Castleark Management LLC lessened its stake in shares of iRhythm Technologies (NASDAQ:IRTC – Free Report) by 14.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,193 shares of the company’s stock after selling 8,200 shares during the period. Castleark Management LLC’s holdings in iRhythm Technologies were worth $8,906,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of iRhythm Technologies by 0.7% during the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock worth $1,701,000 after purchasing an additional 70 shares during the period. WoodTrust Financial Corp lifted its holdings in shares of iRhythm Technologies by 0.7% during the fourth quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock worth $1,787,000 after purchasing an additional 70 shares during the period. US Bancorp DE lifted its holdings in shares of iRhythm Technologies by 7.8% during the third quarter. US Bancorp DE now owns 1,042 shares of the company’s stock worth $179,000 after purchasing an additional 75 shares during the period. Finally, State of Wyoming lifted its holdings in shares of iRhythm Technologies by 16.0% during the fourth quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after purchasing an additional 85 shares during the period.
iRhythm Technologies Stock Up 0.9%
IRTC stock opened at $113.65 on Friday. The stock’s 50 day simple moving average is $117.07 and its 200 day simple moving average is $141.46. The company has a market cap of $3.73 billion, a P/E ratio of -132.15 and a beta of 1.27. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. iRhythm Technologies has a fifty-two week low of $101.75 and a fifty-two week high of $212.00.
Analyst Ratings Changes
IRTC has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Robert W. Baird cut their price target on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Weiss Ratings lowered shares of iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Citigroup boosted their target price on shares of iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group dropped their target price on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.38.
Get Our Latest Stock Report on iRhythm Technologies
Insider Transactions at iRhythm Technologies
In other news, Director Abhijit Y. Talwalkar purchased 5,312 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price 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. The trade was a 26.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.98% of the company’s stock.
iRhythm Technologies Company 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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