iRhythm Technologies, Inc. (NASDAQ:IRTC) Position Cut by Fulton Bank N.A.

Fulton Bank N.A. trimmed its stake in iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) by 4.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,249 shares of the company’s stock after selling 107 shares during the quarter. Fulton Bank N.A.’s holdings in iRhythm Technologies were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IRTC. FNY Investment Advisers LLC purchased a new position in iRhythm Technologies in the 1st quarter worth about $55,000. CIBC Asset Management Inc acquired a new stake in iRhythm Technologies during the 1st quarter worth about $216,000. Xponance Inc. acquired a new stake in iRhythm Technologies during the 1st quarter worth about $222,000. Pearl River Capital LLC acquired a new stake in iRhythm Technologies during the 1st quarter worth about $232,000. Finally, Pictet Asset Management SA acquired a new stake in iRhythm Technologies during the 4th quarter worth about $235,000. 98.98% of the stock is currently owned by institutional investors.

Insider Activity at iRhythm Technologies

In related news, CFO Douglas Devine sold 1,239 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $108.90, for a total transaction of $134,927.10. Following the completion of the transaction, the chief financial officer now directly owns 39,811 shares of the company’s stock, valued at $4,335,417.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Daniel G. Wilson sold 1,428 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $108.93, for a total value of $155,552.04. Following the completion of the sale, the executive vice president now directly owns 37,562 shares of the company’s stock, valued at $4,091,628.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas Devine sold 1,239 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $108.90, for a total value of $134,927.10. Following the completion of the sale, the chief financial officer now directly owns 39,811 shares of the company’s stock, valued at $4,335,417.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,866 shares of company stock valued at $1,459,508. Insiders own 1.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on IRTC. Citigroup raised their price objective on iRhythm Technologies to $157.00 in a research report on Tuesday, August 9th. Canaccord Genuity Group lifted their price target on iRhythm Technologies from $185.00 to $198.00 and gave the company a “buy” rating in a report on Friday, September 2nd. Canaccord Genuity Group lifted their price target on iRhythm Technologies from $185.00 to $198.00 and gave the company a “buy” rating in a report on Friday, September 2nd. Truist Financial reduced their price target on iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $135.00 price target (down from $183.00) on shares of iRhythm Technologies in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.36.

iRhythm Technologies Stock Down 3.0 %

Shares of iRhythm Technologies stock opened at $150.01 on Monday. iRhythm Technologies, Inc. has a 1 year low of $56.49 and a 1 year high of $169.54. The business has a 50-day moving average of $149.87 and a two-hundred day moving average of $138.50. The company has a market capitalization of $4.50 billion, a P/E ratio of -33.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.04 and a quick ratio of 3.84.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.15. iRhythm Technologies had a negative return on equity of 38.95% and a negative net margin of 36.15%. The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $100.51 million. During the same period in the prior year, the company earned ($0.59) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities analysts predict that iRhythm Technologies, Inc. will post -3.06 EPS for the current year.

iRhythm Technologies Company 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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