UBS Group AG Acquires 100,435 Shares of iRhythm Technologies $IRTC

UBS Group AG grew its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 190.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 153,218 shares of the company’s stock after buying an additional 100,435 shares during the period. UBS Group AG’s holdings in iRhythm Technologies were worth $27,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in iRhythm Technologies during the third quarter worth about $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of iRhythm Technologies during the third quarter worth $30,000. GAMMA Investing LLC lifted its position in shares of iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after acquiring an additional 60 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of iRhythm Technologies by 100.0% during the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of iRhythm Technologies during the third quarter worth $34,000.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Minang Turakhia sold 4,027 shares of iRhythm Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $128.45, for a total transaction of $517,268.15. Following the completion of the sale, the executive vice president directly owned 54,906 shares in the company, valued at $7,052,675.70. The trade was a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chad Patterson sold 4,444 shares of iRhythm Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $128.44, for a total transaction of $570,787.36. Following the sale, the insider owned 58,164 shares of the company’s stock, valued at approximately $7,470,584.16. The trade was a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 94,509 shares of company stock valued at $12,734,195 over the last quarter. Company insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

IRTC has been the topic of several recent research reports. Canaccord Genuity Group dropped their target price on iRhythm Technologies from $198.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company dropped their target price on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Citigroup boosted their price objective on shares of iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average price target of $193.38.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $120.66 on Friday. The company has a 50 day moving average of $121.56 and a 200 day moving average of $153.03. The stock has a market cap of $3.96 billion, a P/E ratio of -140.30 and a beta of 1.33. iRhythm Technologies has a 12 month low of $112.31 and a 12 month high of $212.00. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $199.39 million during the quarter, compared to analyst estimates of $194.11 million. During the same period in the previous year, the business posted ($0.97) earnings per share. iRhythm Technologies’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, sell-side analysts forecast that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

iRhythm Technologies Company 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.