Dynamic Technology Lab Private Ltd Invests $1.50 Million in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Dynamic Technology Lab Private Ltd acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,173 shares of the company's stock, valued at approximately $1,497,000. Dynamic Technology Lab Private Ltd owned about 0.06% of iRhythm Technologies at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of iRhythm Technologies by 79,700.0% during the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company's stock worth $185,000 after buying an additional 1,594 shares during the period. Silvercrest Asset Management Group LLC lifted its position in iRhythm Technologies by 4.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 94,653 shares of the company's stock worth $10,980,000 after acquiring an additional 4,338 shares during the period. Comerica Bank grew its stake in shares of iRhythm Technologies by 5,033.5% in the 1st quarter. Comerica Bank now owns 38,963 shares of the company's stock valued at $4,520,000 after purchasing an additional 38,204 shares during the last quarter. Shaolin Capital Management LLC acquired a new position in shares of iRhythm Technologies in the first quarter valued at approximately $3,468,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of iRhythm Technologies by 377.3% in the second quarter. Harbor Capital Advisors Inc. now owns 21,490 shares of the company's stock valued at $2,313,000 after purchasing an additional 16,988 shares during the period.

Insider Buying and Selling at iRhythm Technologies

In other news, CEO Quentin S. Blackford sold 16,145 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar acquired 6,664 shares of iRhythm Technologies stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the purchase, the director now directly owns 18,941 shares of the company's stock, valued at approximately $1,423,605.56. This trade represents a 54.28 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC decreased their price target on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They issued a "neutral" rating and a $78.00 target price on the stock. Citigroup cut their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com cut iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $108.50.

iRhythm Technologies Price Performance

NASDAQ IRTC traded up $0.13 during mid-day trading on Tuesday, hitting $82.45. The stock had a trading volume of 359,411 shares, compared to its average volume of 474,898. The company has a 50 day simple moving average of $73.15 and a 200 day simple moving average of $81.69. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -16.96 and a beta of 1.23. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). The firm had revenue of $147.54 million during 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 quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.89) EPS. Equities analysts forecast that iRhythm Technologies, Inc. will post -3.44 EPS for the current fiscal year.

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.