iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,239 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Handelsbanken Fonder AB’s holdings in iRhythm Technologies were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership increased its position in iRhythm Technologies by 22.5% in the third quarter. Artisan Partners Limited Partnership now owns 1,962,625 shares of the company’s stock worth $184,997,000 after buying an additional 359,908 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of iRhythm Technologies by 67.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 572,358 shares of the company’s stock worth $53,950,000 after acquiring an additional 231,077 shares during the period. Wellington Management Group LLP bought a new stake in iRhythm Technologies in the 3rd quarter valued at about $20,659,000. Braidwell LP boosted its stake in iRhythm Technologies by 18.7% during the 3rd quarter. Braidwell LP now owns 568,157 shares of the company’s stock valued at $53,554,000 after purchasing an additional 89,600 shares during the period. Finally, Blair William & Co. IL grew its position in iRhythm Technologies by 6.6% in the 3rd quarter. Blair William & Co. IL now owns 1,111,417 shares of the company’s stock worth $104,762,000 after purchasing an additional 68,983 shares during the last quarter.

iRhythm Technologies Stock Down 2.9 %

Shares of IRTC stock opened at $108.64 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 2.15. The stock has a market cap of $3.38 billion, a PE ratio of -26.82 and a beta of 1.30. The business’s fifty day moving average is $111.16 and its 200-day moving average is $102.64. iRhythm Technologies, Inc. has a 1 year low of $70.24 and a 1 year high of $134.45.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. The business had revenue of $132.51 million during the quarter, compared to the consensus estimate of $131.14 million. Equities analysts expect that iRhythm Technologies, Inc. will post -3.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRTC. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC boosted their price target on iRhythm Technologies from $136.00 to $137.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.

Insider Buying and Selling

In related news, EVP Daniel G. Wilson sold 1,261 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the sale, the executive vice president now directly owns 32,967 shares in the company, valued at $4,020,655.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Mark J. Day sold 1,475 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $179,891.00. Following the sale, the chief technology officer now directly owns 64,412 shares of the company’s stock, valued at $7,855,687.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel G. Wilson sold 1,261 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the completion of the transaction, the executive vice president now owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The disclosure for this sale can be found here. Insiders have sold 35,052 shares of company stock worth $4,274,942 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.