Braidwell LP Buys 256,200 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Braidwell LP boosted its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 48.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 782,557 shares of the company's stock after acquiring an additional 256,200 shares during the quarter. iRhythm Technologies accounts for about 1.6% of Braidwell LP's investment portfolio, making the stock its 24th largest holding. Braidwell LP owned 2.50% of iRhythm Technologies worth $58,097,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock worth $67,000 after acquiring an additional 277 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company's stock worth $185,000 after purchasing an additional 1,594 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock valued at $148,000 after buying an additional 1,600 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company's stock valued at $229,000 after buying an additional 150 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of iRhythm Technologies in the 2nd quarter valued at approximately $297,000.

Analyst Ratings Changes

IRTC has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. StockNews.com cut shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Robert W. Baird lowered their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer reduced their price target on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a research report 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $108.50.

Insiders Place Their Bets

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the firm'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 transaction of $1,249,784.45. Following the sale, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This trade represents a 9.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of iRhythm Technologies stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $75.16 per share, with a total value of $500,866.24. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company's stock.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC traded down $2.06 during midday trading on Friday, hitting $86.96. The company's stock had a trading volume of 155,454 shares, compared to its average volume of 473,865. The stock's 50 day simple moving average is $74.17 and its 200 day simple moving average is $81.59. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -17.89 and a beta of 1.23. 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 posted 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). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. During the same quarter last year, the business posted ($0.89) earnings per share. The company's revenue for the quarter was up 18.4% on a year-over-year basis. As a group, research analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

iRhythm Technologies Company 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.