SG Americas Securities LLC Reduces Stock Holdings in iRhythm Technologies $IRTC

SG Americas Securities LLC decreased its stake in iRhythm Technologies (NASDAQ:IRTC) by 47.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,870 shares of the company’s stock after selling 5,335 shares during the period. SG Americas Securities LLC’s holdings in iRhythm Technologies were worth $693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its position in iRhythm Technologies by 89.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,361 shares of the company’s stock valued at $241,000 after acquiring an additional 644 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of iRhythm Technologies by 12.1% during the fourth quarter. Corient Private Wealth LLC now owns 1,764 shares of the company’s stock worth $313,000 after purchasing an additional 191 shares during the last quarter. MidFirst Bank acquired a new stake in shares of iRhythm Technologies during the fourth quarter worth about $235,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of iRhythm Technologies by 7.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 639,423 shares of the company’s stock valued at $113,459,000 after purchasing an additional 44,175 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $855,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating on shares of iRhythm Technologies in a research note on Monday, June 1st. The Goldman Sachs Group decreased their price target on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. Bank of America lowered their price target on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, BTIG Research restated a “buy” rating and issued a $185.00 price target on shares of iRhythm Technologies in a research report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average price target of $187.38.

Insider Activity at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $10.71 per share, with a total value of $56,891.52. Following the purchase, the director directly owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. This trade represents a 26.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is owned by company insiders.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC traded up $0.93 on Tuesday, reaching $126.96. 6,766 shares of the company were exchanged, compared to its average volume of 609,693. The company has a 50-day moving average of $115.28 and a 200-day moving average of $134.02. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of -146.96 and a beta of 1.27. iRhythm Technologies has a 1-year low of $100.85 and a 1-year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The firm had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. During the same quarter in the previous year, the firm earned ($0.97) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. Equities analysts forecast that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

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.