Eventide Asset Management LLC Has $106.48 Million Stock Holdings in iRhythm Technologies $IRTC

Eventide Asset Management LLC cut its position in iRhythm Technologies (NASDAQ:IRTC) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 691,573 shares of the company’s stock after selling 48,489 shares during the quarter. iRhythm Technologies makes up about 1.9% of Eventide Asset Management LLC’s holdings, making the stock its 8th biggest position. Eventide Asset Management LLC owned about 2.15% of iRhythm Technologies worth $106,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd acquired a new stake in shares of iRhythm Technologies in the second quarter valued at about $39,000. AlphaQuest LLC acquired a new position in shares of iRhythm Technologies during the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in iRhythm Technologies during the 1st quarter valued at approximately $50,000. US Bancorp DE grew its holdings in iRhythm Technologies by 61.9% in the 1st quarter. US Bancorp DE now owns 978 shares of the company’s stock valued at $102,000 after buying an additional 374 shares during the last quarter. Finally, Versor Investments LP bought a new position in iRhythm Technologies in the 2nd quarter worth approximately $200,000.

Insider Buying and Selling

In other iRhythm Technologies news, CFO Daniel G. Wilson sold 8,000 shares of the company’s 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 sale, the chief financial officer directly owned 26,470 shares in the company, valued at $5,490,936.80. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick Michael Murphy sold 2,478 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the transaction, the insider owned 53,281 shares of the company’s stock, valued at $9,847,927.23. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,817 shares of company stock valued at $4,741,235. 1.10% of the stock is currently owned by company insiders.

iRhythm Technologies Trading Down 0.2%

Shares of IRTC stock opened at $168.83 on Friday. The firm has a fifty day moving average of $178.38 and a 200-day moving average of $163.82. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of -104.86 and a beta of 1.10. iRhythm Technologies has a 52-week low of $84.17 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.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating 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 business had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. During the same period in the previous year, the business earned ($1.26) EPS. The firm’s revenue was up 30.8% on a year-over-year basis. On average, equities research analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IRTC shares. The Goldman Sachs Group increased their price objective on iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Robert W. Baird upped their target price on shares of iRhythm Technologies from $180.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. BTIG Research raised their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Loop Capital set a $220.00 price objective on shares of iRhythm Technologies in a report on Friday, October 31st. Finally, Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $193.00 to $212.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.