Eventide Asset Management LLC Raises Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Eventide Asset Management LLC increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 170.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 736,721 shares of the company's stock after acquiring an additional 464,629 shares during the period. Eventide Asset Management LLC owned about 2.35% of iRhythm Technologies worth $54,694,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in shares of iRhythm Technologies by 5.9% in the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company's stock worth $153,745,000 after purchasing an additional 80,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in iRhythm Technologies by 38.1% in 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. Point72 Asset Management L.P. boosted its stake in iRhythm Technologies by 12.3% in the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company's stock worth $57,717,000 after buying an additional 58,668 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of iRhythm Technologies by 9.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company's stock worth $38,603,000 after acquiring an additional 44,387 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in shares of iRhythm Technologies by 1.1% during the second quarter. Fiera Capital Corp now owns 393,197 shares of the company's stock worth $42,324,000 after acquiring an additional 4,284 shares in the last quarter.

Insider Activity

In related news, CEO Quentin S. Blackford sold 16,145 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 159,929 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of iRhythm Technologies stock in a transaction on Monday, November 4th. The stock was bought at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the acquisition, the director now owns 18,941 shares in the company, valued at $1,423,605.56. The trade was a 54.28 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on IRTC shares. Oppenheimer decreased their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Robert W. Baird lowered their target price 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. Needham & Company LLC reduced their price target on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. StockNews.com cut iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Friday, September 27th. Finally, Citigroup dropped 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. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $108.50.

iRhythm Technologies Trading Down 2.3 %

IRTC stock traded down $2.06 on Friday, reaching $86.96. The company's stock had a trading volume of 155,454 shares, compared to its average volume of 473,865. The business has a fifty day simple moving average of $74.17 and a two-hundred day simple moving average of $81.59. The firm has a market cap of $2.72 billion, a PE ratio of -17.89 and a beta of 1.23. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The firm had revenue of $147.54 million for 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%. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.89) earnings per share. As a group, research analysts forecast that iRhythm Technologies, Inc. will post -3.44 EPS 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.