Westfield Capital Management Co. LP Sells 80,789 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Westfield Capital Management Co. LP reduced its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 528,291 shares of the company's stock after selling 80,789 shares during the quarter. Westfield Capital Management Co. LP owned 1.69% of iRhythm Technologies worth $39,220,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC raised its holdings in shares of iRhythm Technologies by 7.6% during the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company's stock worth $229,000 after acquiring an additional 150 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of iRhythm Technologies by 4.6% during the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company's stock valued at $462,000 after buying an additional 175 shares during the last quarter. Nisa Investment Advisors LLC grew 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 in the last quarter. Arizona State Retirement System grew its stake in shares of iRhythm Technologies by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company's stock valued at $938,000 after buying an additional 287 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in iRhythm Technologies by 6.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,909 shares of the company's stock worth $851,000 after buying an additional 482 shares during the last quarter.

Insider Buying and Selling

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction dated 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 $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar acquired 6,664 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the purchase, the director now directly 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 currently owned by insiders.

iRhythm Technologies Stock Up 11.3 %

Shares of NASDAQ:IRTC traded up $8.33 during mid-day trading on Monday, reaching $82.32. 536,223 shares of the stock were exchanged, compared to its average volume of 475,405. The company has a market cap of $2.58 billion, a P/E ratio of -16.94 and a beta of 1.23. The stock's 50 day simple moving average is $72.93 and its 200-day simple moving average is $81.81. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11.

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 for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.89) EPS. As a group, equities research analysts predict that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Robert W. Baird cut their price objective on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. StockNews.com cut iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Friday, September 27th. Citigroup reduced their price objective 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. Finally, Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $108.50.

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.