Prelude Capital Management LLC Trims Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Prelude Capital Management LLC lessened its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) by 43.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,138 shares of the company’s stock after selling 10,130 shares during the period. Prelude Capital Management LLC’s holdings in iRhythm Technologies were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its holdings in iRhythm Technologies by 31.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,950 shares of the company’s stock valued at $347,000 after buying an additional 706 shares in the last quarter. Bank of America Corp DE increased its holdings in iRhythm Technologies by 35.3% in the fourth quarter. Bank of America Corp DE now owns 159,639 shares of the company’s stock valued at $18,787,000 after buying an additional 41,628 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in iRhythm Technologies in the fourth quarter valued at $216,000. Dimensional Fund Advisors LP increased its holdings in iRhythm Technologies by 303.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 65,889 shares of the company’s stock valued at $7,754,000 after buying an additional 49,562 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in iRhythm Technologies by 6.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 6,437 shares of the company’s stock valued at $758,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.

iRhythm Technologies Stock Performance

IRTC opened at $159.25 on Monday. The firm has a market capitalization of $4.78 billion, a PE ratio of -36.03 and a beta of 1.51. iRhythm Technologies, Inc. has a twelve month low of $46.80 and a twelve month high of $169.54. The firm’s 50-day moving average price is $146.26 and its 200 day moving average price is $137.72. The company has a current ratio of 4.04, a quick ratio of 3.84 and a debt-to-equity ratio of 0.14.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.15. The firm had revenue of $102.10 million for the quarter, compared to analyst estimates of $100.51 million. iRhythm Technologies had a negative net margin of 36.15% and a negative return on equity of 38.95%. iRhythm Technologies’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.59) earnings per share. As a group, sell-side analysts expect that iRhythm Technologies, Inc. will post -3.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of iRhythm Technologies from $185.00 to $198.00 and gave the company a “buy” rating in a report on Friday, September 2nd. BTIG Research boosted their target price on shares of iRhythm Technologies from $155.00 to $178.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Truist Financial cut their target price on shares of iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, September 2nd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $135.00 target price (down previously from $183.00) on shares of iRhythm Technologies in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.36.

Insider Buying and Selling

In other iRhythm Technologies news, CFO Douglas Devine sold 10,109 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 29,702 shares in the company, valued at approximately $3,392,562.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,428 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $108.93, for a total value of $155,552.04. Following the transaction, the executive vice president now directly owns 37,562 shares in the company, valued at approximately $4,091,628.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas Devine sold 10,109 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 29,702 shares in the company, valued at $3,392,562.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,276 shares of company stock worth $1,501,009. 1.64% of the stock is owned by insiders.

iRhythm Technologies Company Profile

(Get Rating)

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.

Featured Articles

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

Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.