Holocene Advisors LP Sells 861,685 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Holocene Advisors LP trimmed its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 82.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,985 shares of the company's stock after selling 861,685 shares during the period. Holocene Advisors LP owned about 0.58% of iRhythm Technologies worth $13,436,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mackenzie Financial Corp lifted its holdings in shares of iRhythm Technologies by 5.9% during the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company's stock valued at $153,745,000 after purchasing an additional 80,091 shares during the last quarter. Braidwell LP lifted its holdings in shares of iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company's stock valued at $58,097,000 after purchasing an additional 256,200 shares during the last quarter. Eventide Asset Management LLC lifted its holdings in shares of iRhythm Technologies by 170.8% during the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock valued at $54,694,000 after purchasing an additional 464,629 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock valued at $52,501,000 after purchasing an additional 195,246 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of iRhythm Technologies by 12.3% during the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company's stock valued at $57,717,000 after purchasing an additional 58,668 shares during the last quarter.

iRhythm Technologies Stock Up 0.9 %

IRTC stock traded up $0.78 during mid-day trading on Wednesday, hitting $86.80. The stock had a trading volume of 284,602 shares, compared to its average volume of 472,188. 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. The company has a fifty day moving average of $75.12 and a 200 day moving average of $81.35. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -17.86 and a beta of 1.26.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business's revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.89) EPS. On average, equities analysts expect that iRhythm Technologies, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the sale, the chief executive officer now owns 159,929 shares of the company's stock, valued at $12,380,103.89. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Patrick Michael Murphy sold 2,492 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IRTC. The Goldman Sachs Group began coverage on iRhythm Technologies in a report on Friday, October 4th. They set a "neutral" rating and a $78.00 target price for the company. Citigroup reduced their price objective on iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Truist Financial increased their price objective on iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird reduced their price objective on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.45.

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.