Algert Global LLC Has $1.01 Million Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Algert Global LLC increased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 332.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,560 shares of the company's stock after buying an additional 10,427 shares during the period. Algert Global LLC's holdings in iRhythm Technologies were worth $1,007,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock valued at $67,000 after buying an additional 277 shares during the period. Russell Investments Group Ltd. lifted its stake in iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company's stock worth $185,000 after acquiring an additional 1,594 shares during the last quarter. nVerses Capital LLC grew its holdings in iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $148,000 after acquiring an additional 1,600 shares in the last quarter. SeaCrest Wealth Management LLC increased its position 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 purchasing an additional 150 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of iRhythm Technologies in the 2nd quarter valued at $297,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRTC. Canaccord Genuity Group raised their price target on iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Truist Financial lifted their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Oppenheimer decreased their price objective on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a report 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 report on Friday, November 1st. Finally, Citigroup decreased their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, iRhythm Technologies currently has an average rating of "Moderate Buy" and an average price target of $108.50.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $75.16 per share, with a total value of $500,866.24. Following the purchase, the director now owns 18,941 shares in the company, valued at $1,423,605.56. This trade represents a 54.28 % increase 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, 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 transaction of $1,249,784.45. Following the sale, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This trade represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

iRhythm Technologies Stock Performance

Shares of IRTC stock traded down $2.06 during mid-day trading 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 has a market cap of $2.72 billion, a PE ratio of -17.89 and a beta of 1.23. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The company's 50-day simple moving average is $74.17 and its 200-day simple moving average is $81.71.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) 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 the consensus estimate of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. iRhythm Technologies's revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.89) earnings per share. Sell-side analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

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.