iRhythm Technologies $IRTC Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in iRhythm Technologies (NASDAQ:IRTC) by 40.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,386 shares of the company’s stock after selling 1,603 shares during the period. Oppenheimer Asset Management Inc.’s holdings in iRhythm Technologies were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IRTC. AlphaQuest LLC raised its position in iRhythm Technologies by 344.2% during the second quarter. AlphaQuest LLC now owns 1,257 shares of the company’s stock worth $194,000 after acquiring an additional 974 shares during the period. R Squared Ltd acquired a new position in iRhythm Technologies during the second quarter worth $404,000. Ethic Inc. acquired a new position in iRhythm Technologies during the second quarter worth $242,000. Stephens Investment Management Group LLC raised its position in iRhythm Technologies by 6.2% during the second quarter. Stephens Investment Management Group LLC now owns 552,916 shares of the company’s stock worth $85,127,000 after acquiring an additional 32,334 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new position in iRhythm Technologies during the second quarter worth $1,089,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IRTC shares. Robert W. Baird increased their target price on shares of iRhythm Technologies from $180.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Loop Capital set a $220.00 target price on shares of iRhythm Technologies in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America started coverage on shares of iRhythm Technologies in a research report on Wednesday, August 20th. They issued a “buy” rating and a $200.00 target price for the company. Finally, Morgan Stanley reduced their target price 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 analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.57.

iRhythm Technologies Trading Up 1.7%

NASDAQ IRTC opened at $187.30 on Monday. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -116.33 and a beta of 1.13. The firm has a 50 day simple moving average of $177.02 and a 200-day simple moving average of $153.36. iRhythm Technologies has a one year low of $67.92 and a one year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The business had revenue of $192.88 million for the quarter, compared to analysts’ expectations of $184.75 million. During the same period last year, the firm earned ($1.26) earnings per share. The company’s revenue for the quarter was up 30.8% compared to the same quarter last year. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In related news, insider Chad Patterson sold 2,555 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $158.97, for a total value of $406,168.35. Following the completion of the sale, the insider owned 43,667 shares in the company, valued at $6,941,742.99. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marc Wade Rosenbaum sold 226 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $158.93, for a total transaction of $35,918.18. Following the completion of the sale, the chief accounting officer owned 10,879 shares of the company’s stock, valued at approximately $1,728,999.47. This trade represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 43,746 shares of company stock worth $7,081,818. 0.68% of the stock is owned by 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.