iRhythm Technologies $IRTC Stock Position Decreased by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,100 shares of the company’s stock after selling 27,808 shares during the quarter. Polar Capital Holdings Plc owned approximately 0.96% of iRhythm Technologies worth $54,669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of iRhythm Technologies during the third quarter worth about $30,000. GAMMA Investing LLC lifted its position in iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. FNY Investment Advisers LLC bought a new position in iRhythm Technologies in the 3rd quarter worth about $34,000. Finally, Optiver Holding B.V. bought a new position in iRhythm Technologies in the 3rd quarter worth about $35,000.

iRhythm Technologies Trading Down 4.3%

NASDAQ IRTC opened at $108.84 on Wednesday. iRhythm Technologies has a twelve month low of $101.75 and a twelve month high of $212.00. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -126.56 and a beta of 1.27. The firm’s 50 day moving average price is $116.85 and its two-hundred day moving average price is $140.09.

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

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar purchased 5,312 shares of iRhythm Technologies stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the acquisition, the director directly owned 25,611 shares in the company, valued at $274,293.81. This represents a 26.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings lowered iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group cut their price objective on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. HC Wainwright reaffirmed a “buy” rating on shares of iRhythm Technologies in a research note on Monday, June 1st. Citigroup lifted their target price on iRhythm Technologies from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Bank of America cut their price target on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.38.

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.