Bamco Inc. NY Invests $5.22 Million in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bamco Inc. NY purchased a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 45,000 shares of the company’s stock, valued at approximately $5,220,000. Bamco Inc. NY owned about 0.14% of iRhythm Technologies at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IRTC. Headlands Technologies LLC lifted its position in shares of iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares during the last quarter. International Assets Investment Management LLC acquired a new position in iRhythm Technologies during the fourth quarter worth about $92,000. SG Americas Securities LLC acquired a new position in iRhythm Technologies during the first quarter worth about $126,000. Quent Capital LLC purchased a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $161,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after purchasing an additional 1,594 shares in the last quarter.

iRhythm Technologies Stock Performance

iRhythm Technologies stock traded up $0.82 on Monday, hitting $89.16. The company’s stock had a trading volume of 172,093 shares, compared to its average volume of 403,844. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. The company has a fifty day moving average price of $95.81 and a 200-day moving average price of $105.88. iRhythm Technologies, Inc. has a one year low of $70.24 and a one year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.48). The company had revenue of $131.93 million for the quarter, compared to analyst estimates of $128.87 million. iRhythm Technologies had a negative return on equity of 69.87% and a negative net margin of 25.33%. Equities analysts predict that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on IRTC shares. Canaccord Genuity Group cut their price target on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Truist Financial reduced their price objective on shares of iRhythm Technologies from $145.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Morgan Stanley reduced their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Needham & Company LLC raised their price target on shares of iRhythm Technologies from $137.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Wolfe Research upgraded shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.88.

Insider Buying and Selling

In other iRhythm Technologies news, CAO Marc W. Rosenbaum sold 510 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $45,344.10. Following the transaction, the chief accounting officer now directly owns 8,174 shares in the company, valued at approximately $726,750.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Sumi Shrishrimal sold 1,131 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $100,557.21. Following the completion of the sale, the executive vice president now directly owns 23,298 shares of the company’s stock, valued at approximately $2,071,425.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Marc W. Rosenbaum sold 510 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $45,344.10. Following the completion of the sale, the chief accounting officer now directly owns 8,174 shares of the company’s stock, valued at $726,750.34. The disclosure for this sale can be found here. Insiders have sold a total of 3,045 shares of company stock worth $294,234 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.