Barclays PLC Purchases 53,498 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Barclays PLC raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 34.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,247 shares of the company’s stock after purchasing an additional 53,498 shares during the quarter. Barclays PLC owned 0.67% of iRhythm Technologies worth $15,534,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of iRhythm Technologies in the third quarter valued at approximately $59,000. Nisa Investment Advisors LLC increased its position in iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares during the period. nVerses Capital LLC increased its position in iRhythm Technologies by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after acquiring an additional 1,600 shares during the period. SeaCrest Wealth Management LLC raised its stake in shares of iRhythm Technologies by 7.6% during the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after acquiring an additional 150 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its holdings in shares of iRhythm Technologies by 22.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after purchasing an additional 567 shares during the period.

Insider Activity at iRhythm Technologies

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

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $86.43 on Monday. The firm has a market capitalization of $2.71 billion, a P/E ratio of -17.78 and a beta of 1.26. The firm’s 50-day moving average price is $77.33 and its 200-day moving average price is $81.12. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11.

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

Wall Street Analysts Forecast Growth

IRTC has been the subject of several analyst reports. Citigroup lowered their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC lowered their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group began coverage on iRhythm Technologies in a report on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $86.00 price target on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group upped their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.82.

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.