Diversified Trust Co Lowers Stock Position in iRhythm Technologies $IRTC

Diversified Trust Co reduced its position in shares of iRhythm Technologies (NASDAQ:IRTC) by 43.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,245 shares of the company’s stock after selling 3,250 shares during the period. Diversified Trust Co’s holdings in iRhythm Technologies were worth $730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in iRhythm Technologies by 2.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,256 shares of the company’s stock valued at $501,000 after buying an additional 93 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of iRhythm Technologies by 0.3% in the second quarter. California State Teachers Retirement System now owns 28,917 shares of the company’s stock valued at $4,452,000 after acquiring an additional 99 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of iRhythm Technologies by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 4,769 shares of the company’s stock valued at $734,000 after acquiring an additional 194 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of iRhythm Technologies during the second quarter valued at approximately $39,000. Finally, Ascent Group LLC lifted its holdings in iRhythm Technologies by 3.5% during the first quarter. Ascent Group LLC now owns 8,390 shares of the company’s stock worth $878,000 after acquiring an additional 280 shares during the period.

iRhythm Technologies Trading Down 1.3%

Shares of iRhythm Technologies stock opened at $175.22 on Friday. The stock has a market capitalization of $5.65 billion, a P/E ratio of -108.83 and a beta of 1.10. iRhythm Technologies has a 52-week low of $86.99 and a 52-week high of $212.00. 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 stock’s 50-day simple moving average is $177.24 and its 200 day simple moving average is $166.95.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The firm had revenue of $192.88 million during the quarter, compared to the consensus estimate of $184.75 million. During the same quarter last year, the company earned ($1.26) earnings per share. The company’s revenue was up 30.8% on a year-over-year basis. As a group, research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on iRhythm Technologies from $193.00 to $244.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Evercore ISI lowered their target price on iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. BTIG Research increased their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Robert W. Baird raised their price objective on shares of iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $206.43.

Insider Buying and Selling at iRhythm Technologies

In other news, CFO Daniel G. Wilson sold 8,000 shares of iRhythm Technologies stock in a transaction on Friday, October 31st. The stock was sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the transaction, the chief financial officer directly owned 26,470 shares in the company, valued at approximately $5,490,936.80. The trade was a 23.21% 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, CEO Quentin S. Blackford sold 14,059 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $182.94, for a total value of $2,571,953.46. Following the sale, the chief executive officer owned 164,979 shares in the company, valued at approximately $30,181,258.26. The trade was a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,817 shares of company stock valued at $4,741,235 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

iRhythm Technologies Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.