20,500 Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC) Acquired by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,500 shares of the company's stock, valued at approximately $1,522,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.07% of iRhythm Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in shares of iRhythm Technologies by 17.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,275 shares of the company's stock worth $689,000 after acquiring an additional 1,366 shares in the last quarter. Aigen Investment Management LP bought a new stake in iRhythm Technologies in the third quarter worth $243,000. State of New Jersey Common Pension Fund D raised its stake in iRhythm Technologies by 32.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 28,414 shares of the company's stock valued at $2,109,000 after purchasing an additional 6,975 shares in the last quarter. Assetmark Inc. lifted its position in iRhythm Technologies by 8.0% during the third quarter. Assetmark Inc. now owns 12,645 shares of the company's stock valued at $939,000 after purchasing an additional 937 shares during the last quarter. Finally, WoodTrust Financial Corp lifted its position in iRhythm Technologies by 28.4% during the third quarter. WoodTrust Financial Corp now owns 11,307 shares of the company's stock valued at $839,000 after purchasing an additional 2,500 shares during the last quarter.

iRhythm Technologies Trading Up 0.1 %

Shares of NASDAQ IRTC traded up $0.09 during midday trading on Friday, hitting $73.99. The company's stock had a trading volume of 420,162 shares, compared to its average volume of 587,399. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market cap of $2.32 billion, a P/E ratio of -15.22 and a beta of 1.23. The business's 50 day moving average is $72.76 and its two-hundred day moving average is $82.05.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its 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 business had revenue of $147.54 million during the quarter, compared to analysts' expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.89) EPS. As a group, equities research analysts expect that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Insider Activity at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 6,664 shares of iRhythm Technologies stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the company's stock in a transaction on Monday, November 4th. The stock was 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 owns 159,929 shares of the company's stock, valued at $12,380,103.89. This represents 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 company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IRTC shares. Citigroup decreased their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC reduced their price objective on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Robert W. Baird decreased their price objective on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Truist Financial lifted their target price on iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group boosted their target price on iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $108.50.

iRhythm Technologies 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.