iRhythm Technologies $IRTC Stock Position Raised by Osaic Holdings Inc.

Osaic Holdings Inc. increased its position in iRhythm Technologies (NASDAQ:IRTC) by 507.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,292 shares of the company’s stock after purchasing an additional 7,762 shares during the period. Osaic Holdings Inc.’s holdings in iRhythm Technologies were worth $1,431,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of iRhythm Technologies by 169.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock valued at $94,535,000 after purchasing an additional 568,261 shares in the last quarter. Geode Capital Management LLC raised its position in iRhythm Technologies by 2.3% during the second quarter. Geode Capital Management LLC now owns 767,336 shares of the company’s stock valued at $118,154,000 after buying an additional 16,967 shares during the period. Stephens Investment Management Group LLC lifted its stake in iRhythm Technologies by 6.2% in the 2nd 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in iRhythm Technologies by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock worth $45,408,000 after acquiring an additional 108,941 shares during the period. Finally, Millennium Management LLC grew its stake in iRhythm Technologies by 563.8% during the 1st quarter. Millennium Management LLC now owns 399,746 shares of the company’s stock valued at $41,845,000 after acquiring an additional 339,529 shares in the last quarter.

iRhythm Technologies Trading Down 0.0%

NASDAQ:IRTC opened at $178.57 on Wednesday. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. The company’s 50 day moving average is $177.43 and its 200-day moving average is $166.59. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of -110.91 and a beta of 1.10. iRhythm Technologies has a 12 month low of $86.55 and a 12 month high of $212.00.

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

Wall Street Analyst Weigh In

IRTC has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target 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. Needham & Company LLC increased their target price on shares of iRhythm Technologies from $193.00 to $244.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Loop Capital set a $220.00 target price on shares of iRhythm Technologies in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their price target on shares of iRhythm Technologies from $190.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Morgan Stanley increased their price objective on iRhythm Technologies from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, iRhythm Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $206.43.

Insider Activity at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 14,059 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the completion of the transaction, the chief executive officer directly owned 164,979 shares in the company, valued at $30,181,258.26. This represents a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Michael Murphy sold 2,478 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $458,008.74. Following the completion of the sale, the insider owned 53,281 shares in the company, 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. Over the last ninety days, insiders sold 24,817 shares of company stock worth $4,741,235. 0.68% of the stock is owned by 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.