Harel Insurance Investments & Financial Services Ltd. Sells 113 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Harel Insurance Investments & Financial Services Ltd. trimmed its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) by 16.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 588 shares of the company’s stock after selling 113 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in iRhythm Technologies were worth $93,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of IRTC. Parallel Advisors LLC increased its position in iRhythm Technologies by 380.9% during the fourth quarter. Parallel Advisors LLC now owns 630 shares of the company’s stock worth $74,000 after acquiring an additional 499 shares during the period. Strs Ohio bought a new position in iRhythm Technologies in the 4th quarter valued at about $1,294,000. Allspring Global Investments Holdings LLC bought a new position in iRhythm Technologies in the 4th quarter valued at about $4,884,000. State of New Jersey Common Pension Fund D bought a new position in iRhythm Technologies in the 4th quarter valued at about $3,297,000. Finally, Dupont Capital Management Corp bought a new position in iRhythm Technologies in the 4th quarter valued at about $867,000. 97.92% of the stock is owned by institutional investors.

iRhythm Technologies Trading Down 1.5 %

IRTC opened at $149.95 on Monday. iRhythm Technologies, Inc. has a fifty-two week low of $41.66 and a fifty-two week high of $169.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.63 and a quick ratio of 4.43. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -35.62 and a beta of 1.34. The company’s 50 day moving average price is $129.18 and its two-hundred day moving average price is $131.25.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.26. iRhythm Technologies had a negative net margin of 36.43% and a negative return on equity of 34.55%. The firm had revenue of $92.40 million for the quarter, compared to analyst estimates of $86.76 million. During the same period in the previous year, the firm posted ($0.95) EPS. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, research analysts predict that iRhythm Technologies, Inc. will post -3.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Douglas Devine sold 10,109 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $114.22, for a total value of $1,154,649.98. Following the sale, the chief financial officer now directly owns 29,702 shares of the company’s stock, valued at approximately $3,392,562.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Daniel G. Wilson sold 1,428 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $108.93, for a total value of $155,552.04. Following the sale, the executive vice president now directly owns 37,562 shares of the company’s stock, valued at approximately $4,091,628.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Douglas Devine sold 10,109 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $114.22, for a total transaction of $1,154,649.98. Following the completion of the sale, the chief financial officer now directly owns 29,702 shares in the company, valued at $3,392,562.44. The disclosure for this sale can be found here. Insiders have sold 13,276 shares of company stock valued at $1,501,009 in the last ninety days. 1.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on IRTC. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $135.00 target price (down from $183.00) on shares of iRhythm Technologies in a report on Wednesday, June 22nd. Truist Financial decreased their target price on shares of iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Citigroup lowered shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $180.00 to $155.00 in a report on Thursday, June 9th. Wolfe Research began coverage on shares of iRhythm Technologies in a report on Tuesday, April 5th. They set an “underperform” rating and a $105.00 price target on the stock. Finally, BTIG Research lowered their price objective on shares of iRhythm Technologies from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $153.67.

iRhythm Technologies Profile

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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

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