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

Barclays PLC lifted its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 34.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of iRhythm Technologies by 6.2% in the third quarter. Wellington Management Group LLP now owns 213,949 shares of the company's stock valued at $15,884,000 after purchasing an additional 12,478 shares during the last quarter. Western Standard LLC bought a new position in shares of iRhythm Technologies in the 3rd quarter valued at about $4,535,000. State Street Corp raised its holdings in iRhythm Technologies by 1.3% during the third quarter. State Street Corp now owns 908,843 shares of the company's stock worth $67,473,000 after acquiring an additional 11,992 shares in the last quarter. Quarry LP bought a new position in iRhythm Technologies in the third quarter valued at approximately $59,000. Finally, Point72 DIFC Ltd bought a new position in iRhythm Technologies in the third quarter valued at approximately $360,000.

iRhythm Technologies Price Performance

NASDAQ IRTC traded up $3.93 during trading hours on Monday, hitting $90.36. The company had a trading volume of 345,293 shares, compared to its average volume of 466,346. The firm has a 50 day simple moving average of $77.93 and a 200 day simple moving average of $81.14. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -18.59 and a beta of 1.26. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company had revenue of $147.54 million during the quarter, compared to analysts' expectations of $146.69 million. During the same quarter last year, the firm posted ($0.89) earnings per share. The firm's revenue was up 18.4% on a year-over-year basis. Equities research analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IRTC. StockNews.com downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Friday, September 27th. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, December 9th. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a research note on Friday, October 4th. They set a "neutral" rating and a $78.00 target price for the company. Citigroup reduced their price target 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, Needham & Company LLC dropped their price objective on shares of iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, iRhythm Technologies has an average rating of "Moderate Buy" and a consensus price target 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.