Intech Investment Management LLC Acquires New Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Intech Investment Management LLC acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,460 shares of the company's stock, valued at approximately $702,000.

Other large investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in 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 worth $52,501,000 after buying an additional 195,246 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of iRhythm Technologies by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 132,602 shares of the company's stock worth $9,844,000 after acquiring an additional 2,742 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of iRhythm Technologies in the 3rd quarter worth $1,522,000. Oppenheimer Asset Management Inc. raised its position in shares of iRhythm Technologies by 17.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 9,275 shares of the company's stock worth $689,000 after purchasing an additional 1,366 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of iRhythm Technologies during the third quarter valued at $243,000.

Insider Activity

In other news, 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 transaction of $1,249,784.45. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available 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 purchased at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the acquisition, the director now owns 18,941 shares of the company's stock, valued at $1,423,605.56. The trade was 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

IRTC has been the topic of a number of analyst reports. Oppenheimer dropped their price target on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They set a "neutral" rating and a $78.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut 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 note on Friday, November 1st. Finally, Canaccord Genuity Group increased their target price on iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. One equities research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.50.

iRhythm Technologies Stock Down 2.3 %

Shares of NASDAQ IRTC traded down $2.06 during trading hours on Friday, hitting $86.96. The stock had a trading volume of 155,454 shares, compared to its average volume of 473,865. The firm's 50-day moving average price is $74.17 and its two-hundred day moving average price is $81.71. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company has a market capitalization of $2.72 billion, a P/E ratio of -17.89 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.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly 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). The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.89) EPS. Analysts anticipate that iRhythm Technologies, Inc. will post -3.44 EPS for the current fiscal 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.