Westport Asset Management Inc. purchased a new position in shares of iRhythm Technologies (NASDAQ:IRTC – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,127 shares of the company’s stock, valued at approximately $783,000.
Other large investors have also recently bought and sold shares of the company. WoodTrust Financial Corp raised its holdings in shares of iRhythm Technologies by 0.7% in the fourth quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after purchasing an additional 70 shares during the last quarter. US Bancorp DE boosted its holdings in 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 last quarter. State of Wyoming boosted its holdings in 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 last quarter. Alliancebernstein L.P. grew its position in iRhythm Technologies by 0.3% in the third quarter. Alliancebernstein L.P. now owns 37,489 shares of the company’s stock valued at $6,448,000 after purchasing an additional 95 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in iRhythm Technologies by 0.3% in the second quarter. California State Teachers Retirement System now owns 28,917 shares of the company’s stock valued at $4,452,000 after purchasing an additional 99 shares in the last quarter.
Wall Street Analyst Weigh In
IRTC has been the topic of several analyst reports. Wall Street Zen cut shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Bank of America lowered their target price on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company dropped their target price on iRhythm Technologies from $180.00 to $168.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Truist Financial increased their price target on iRhythm Technologies from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.93.
iRhythm Technologies Stock Performance
NASDAQ IRTC opened at $124.75 on Thursday. The firm has a market capitalization of $4.11 billion, a P/E ratio of -290.12 and a beta of 1.30. The company has a current ratio of 3.86, a quick ratio of 3.74 and a debt-to-equity ratio of 3.50. The firm’s fifty day moving average price is $117.21 and its two-hundred day moving average price is $122.20. iRhythm Technologies has a 1 year low of $100.85 and a 1 year high of $212.00.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.62. The company had revenue of $224.17 million during the quarter, compared to the consensus estimate of $219.30 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. As a group, research analysts anticipate that iRhythm Technologies will post 0.43 EPS for the current 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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