iRhythm Technologies, Inc. (NASDAQ:IRTC) Stake Reduced by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP trimmed its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 13.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 528,291 shares of the company’s stock after selling 80,789 shares during the quarter. Westfield Capital Management Co. LP’s holdings in iRhythm Technologies were worth $39,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IRTC. Algert Global LLC boosted its stake in iRhythm Technologies by 332.8% during the 3rd quarter. Algert Global LLC now owns 13,560 shares of the company’s stock valued at $1,007,000 after purchasing an additional 10,427 shares during the period. Eagle Asset Management Inc. raised its holdings in shares of iRhythm Technologies by 44.9% during the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after buying an additional 31,193 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of iRhythm Technologies by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company’s stock worth $18,983,000 after buying an additional 4,173 shares during the period. Intech Investment Management LLC bought a new position in iRhythm Technologies in the 3rd quarter worth approximately $702,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after acquiring an additional 195,246 shares during the period.

iRhythm Technologies Trading Up 0.1 %

Shares of IRTC opened at $73.99 on Monday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The business’s 50-day moving average price is $72.76 and its 200 day moving average price is $81.93.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.89) EPS. On average, analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the transaction, the director now owns 18,941 shares in the company, valued at $1,423,605.56. The trade was a 54.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the transaction, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This represents a 9.17 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IRTC has been the subject of several recent analyst reports. Oppenheimer decreased their price target on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Canaccord Genuity Group raised their target price on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Citigroup lowered their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. decreased their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

About iRhythm Technologies

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.