iRhythm Technologies $IRTC Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in iRhythm Technologies (NASDAQ:IRTC) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,271 shares of the company’s stock after purchasing an additional 922 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.11% of iRhythm Technologies worth $3,692,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Xponance Inc. boosted its holdings in iRhythm Technologies by 6.1% in the 1st quarter. Xponance Inc. now owns 2,390 shares of the company’s stock valued at $250,000 after purchasing an additional 137 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in iRhythm Technologies by 3.1% in the 1st quarter. Hsbc Holdings PLC now owns 4,590 shares of the company’s stock valued at $474,000 after purchasing an additional 138 shares during the last quarter. CWM LLC boosted its holdings in iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after purchasing an additional 182 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in iRhythm Technologies by 5.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock valued at $297,000 after purchasing an additional 184 shares during the last quarter. Finally, MCF Advisors LLC acquired a new position in iRhythm Technologies in the 1st quarter valued at about $25,000.

Analyst Ratings Changes

A number of brokerages have weighed in on IRTC. JPMorgan Chase & Co. lifted their price target on shares of iRhythm Technologies from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $180.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Citigroup lifted their price target on shares of iRhythm Technologies from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Bank of America began coverage on shares of iRhythm Technologies in a research report on Wednesday, August 20th. They set a “buy” rating and a $200.00 price target for the company. Finally, Morgan Stanley dropped their price target on shares of iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Buy” and a consensus price target of $163.82.

Insider Buying and Selling at iRhythm Technologies

In other news, CEO Quentin S. Blackford sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $160.54, for a total transaction of $4,816,200.00. Following the transaction, the chief executive officer directly owned 179,038 shares in the company, valued at $28,742,760.52. The trade was a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $158.02, for a total transaction of $839,402.24. Following the transaction, the director owned 20,299 shares in the company, valued at approximately $3,207,647.98. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,425 shares of company stock valued at $8,424,869. Insiders own 1.10% of the company’s stock.

iRhythm Technologies Trading Down 0.7%

NASDAQ IRTC opened at $179.82 on Friday. The firm’s fifty day moving average price is $156.38 and its 200 day moving average price is $134.49. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $187.57. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -61.37 and a beta of 1.10.

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