Quantinno Capital Management LP Boosts Holdings in iRhythm Technologies $IRTC

Quantinno Capital Management LP raised its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 1,172.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,621 shares of the company’s stock after acquiring an additional 17,158 shares during the quarter. Quantinno Capital Management LP’s holdings in iRhythm Technologies were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. First Light Asset Management LLC grew its position in shares of iRhythm Technologies by 9.3% in the first quarter. First Light Asset Management LLC now owns 168,116 shares of the company’s stock valued at $19,841,000 after purchasing an additional 14,245 shares during the last quarter. Granahan Investment Management LLC raised its position in shares of iRhythm Technologies by 567.9% during the 1st quarter. Granahan Investment Management LLC now owns 96,022 shares of the company’s stock worth $11,333,000 after purchasing an additional 81,645 shares during the last quarter. Entropy Technologies LP lifted its stake in iRhythm Technologies by 59.2% in the 1st quarter. Entropy Technologies LP now owns 10,652 shares of the company’s stock valued at $1,257,000 after buying an additional 3,963 shares in the last quarter. Inceptionr LLC lifted its stake in iRhythm Technologies by 58.2% in the 1st quarter. Inceptionr LLC now owns 5,420 shares of the company’s stock valued at $640,000 after buying an additional 1,993 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in iRhythm Technologies during the 1st quarter valued at $206,000.

Wall Street Analyst Weigh In

IRTC has been the subject of several recent research reports. Canaccord Genuity Group dropped their price target on iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Citigroup upped their price objective on iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Wall Street Zen cut iRhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. HC Wainwright reiterated a “buy” rating on shares of iRhythm Technologies in a research report on Monday, June 1st. Finally, Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and an average target price of $179.93.

iRhythm Technologies Trading Down 2.4%

NASDAQ IRTC opened at $124.78 on Tuesday. The company has a market cap of $4.11 billion, a P/E ratio of -290.19 and a beta of 1.30. iRhythm Technologies has a 12 month low of $100.85 and a 12 month high of $212.00. The company has a debt-to-equity ratio of 3.50, a current ratio of 3.86 and a quick ratio of 3.74. The company has a 50-day moving average of $115.35 and a 200-day moving average of $123.99.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.62. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The business had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $219.30 million. During the same period last year, the company earned ($0.32) earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities analysts predict that iRhythm Technologies will post 0.13 earnings per share for the current year.

About iRhythm Technologies

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.