Xponance Inc. Buys 137 Shares of iRhythm Technologies (NASDAQ:IRTC)

Xponance Inc. boosted its stake in shares of iRhythm Technologies (NASDAQ:IRTC) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,390 shares of the company’s stock after buying an additional 137 shares during the quarter. Xponance Inc.’s holdings in iRhythm Technologies were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRTC. GAMMA Investing LLC raised its holdings in shares of iRhythm Technologies by 30,928.6% in the 1st quarter. GAMMA Investing LLC now owns 8,688 shares of the company’s stock valued at $909,000 after purchasing an additional 8,660 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of iRhythm Technologies by 1,793.7% in the 1st quarter. Principal Financial Group Inc. now owns 50,449 shares of the company’s stock valued at $5,281,000 after purchasing an additional 47,785 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of iRhythm Technologies by 95.6% in the 1st quarter. SG Americas Securities LLC now owns 8,427 shares of the company’s stock valued at $882,000 after purchasing an additional 4,119 shares in the last quarter. Invesco Ltd. raised its holdings in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after purchasing an additional 207 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of iRhythm Technologies in the 1st quarter valued at about $212,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $104.00 to $130.00 in a report on Friday, May 2nd. Robert W. Baird boosted their price target on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley cut their price objective on shares of iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Citigroup boosted their target price on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC upped their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.30.

Insider Transactions at iRhythm Technologies

In other news, insider Chad Patterson sold 936 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $150.00, for a total transaction of $140,400.00. Following the sale, the insider owned 48,929 shares of the company’s stock, valued at approximately $7,339,350. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Minang Turakhia sold 1,420 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $145.41, for a total transaction of $206,482.20. Following the sale, the executive vice president directly owned 41,393 shares in the company, valued at $6,018,956.13. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,356 shares of company stock valued at $796,882. 1.10% of the stock is currently owned by corporate insiders.

iRhythm Technologies Trading Up 0.4%

Shares of IRTC opened at $136.24 on Friday. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47. The firm has a market capitalization of $4.35 billion, a P/E ratio of -43.39 and a beta of 1.41. The firm has a 50-day moving average price of $143.06 and a 200 day moving average price of $119.47. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $157.13.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The company had revenue of $158.68 million for the quarter, compared to analysts’ expectations of $153.39 million. iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business earned ($1.23) EPS. Sell-side analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

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.