Nuveen LLC Invests $9.71 Million in iRhythm Technologies $IRTC

Nuveen LLC bought a new position in iRhythm Technologies (NASDAQ:IRTC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 92,729 shares of the company’s stock, valued at approximately $9,707,000. Nuveen LLC owned 0.29% of iRhythm Technologies as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of iRhythm Technologies by 1,793.7% in the first 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 during the period. GAMMA Investing LLC lifted its stake in shares of iRhythm Technologies by 30,928.6% in the first 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 during the period. SG Americas Securities LLC lifted its stake in shares of iRhythm Technologies by 95.6% in the first 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 during the period. Invesco Ltd. lifted its stake in shares of iRhythm Technologies by 1.1% in the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after purchasing an additional 207 shares during the period. Finally, Stephens Inc. AR acquired a new stake in shares of iRhythm Technologies in the first quarter valued at about $222,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on IRTC shares. Citigroup raised their price objective on shares of iRhythm Technologies from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley reduced their price objective on shares of iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of iRhythm Technologies from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Wells Fargo & Company raised their target price on shares of iRhythm Technologies from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, William Blair upgraded shares of iRhythm Technologies to a “strong-buy” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, iRhythm Technologies has a consensus rating of “Buy” and an average target price of $162.64.

Insider Buying and Selling at iRhythm Technologies

In other news, insider Chad Patterson sold 2,555 shares of iRhythm Technologies stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $158.97, for a total transaction of $406,168.35. Following the completion of the sale, the insider directly owned 43,667 shares in the company, valued at $6,941,742.99. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sumi Shrishrimal sold 653 shares of iRhythm Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $167.12, for a total transaction of $109,129.36. Following the sale, the executive vice president owned 34,032 shares of the company’s stock, valued at approximately $5,687,427.84. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,425 shares of company stock valued at $7,549,869. Corporate insiders own 1.10% of the company’s stock.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $169.12 on Friday. The company has a current ratio of 5.02, a quick ratio of 4.88 and a debt-to-equity ratio of 6.25. The firm has a 50-day moving average price of $147.89 and a two-hundred day moving average price of $128.00. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $172.59. The company has a market capitalization of $5.43 billion, a P/E ratio of -57.72 and a beta of 1.41.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.21. The business had revenue of $186.69 million during the quarter, compared to the consensus estimate of $173.94 million. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.61) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, research analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

iRhythm Technologies Company Profile

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.