Assenagon Asset Management S.A. Has $5.27 Million Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Assenagon Asset Management S.A. boosted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 361.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,962 shares of the company's stock after purchasing an additional 38,344 shares during the quarter. Assenagon Asset Management S.A. owned about 0.16% of iRhythm Technologies worth $5,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership raised its position in iRhythm Technologies by 5.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,071,500 shares of the company's stock valued at $221,733,000 after purchasing an additional 108,875 shares during the last quarter. Sei Investments Co. raised its position in iRhythm Technologies by 7.0% in the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company's stock valued at $27,302,000 after purchasing an additional 15,381 shares during the last quarter. Capital Research Global Investors raised its position in iRhythm Technologies by 5.1% in the 4th quarter. Capital Research Global Investors now owns 2,495,626 shares of the company's stock valued at $267,132,000 after purchasing an additional 121,709 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in iRhythm Technologies in the 1st quarter valued at $1,925,000. Finally, Capstone Investment Advisors LLC purchased a new stake in iRhythm Technologies in the 1st quarter valued at $1,078,000.

Wall Street Analyst Weigh In

IRTC has been the topic of several recent research reports. Oppenheimer dropped their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Friday. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $133.00 to $122.00 and set a "buy" rating on the stock in a research note on Friday, May 3rd. Robert W. Baird dropped their price objective on shares of iRhythm Technologies from $120.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial reissued a "buy" rating and issued a $117.00 price objective (down from $134.00) on shares of iRhythm Technologies in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies has an average rating of "Moderate Buy" and a consensus target price of $118.67.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC traded up $4.20 on Monday, reaching $69.68. 579,165 shares of the company were exchanged, compared to its average volume of 431,499. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. iRhythm Technologies, Inc. has a 1-year low of $63.65 and a 1-year high of $124.11. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -16.47 and a beta of 1.25. The company has a 50-day moving average of $90.52 and a 200-day moving average of $101.22.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, topping analysts' consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The business had revenue of $148.05 million for the quarter, compared to analysts' expectations of $146.15 million. During the same period in the prior year, the company posted ($0.61) EPS. The business's revenue for the quarter was up 19.3% on a year-over-year basis. Equities analysts forecast that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In related news, CAO Marc W. Rosenbaum sold 510 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $45,344.10. Following the sale, the chief accounting officer now directly owns 8,174 shares of the company's stock, valued at approximately $726,750.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other iRhythm Technologies news, CMO Minang Turakhia sold 1,404 shares of the company's stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $105.65, for a total value of $148,332.60. Following the transaction, the chief marketing officer now directly owns 27,255 shares in the company, valued at approximately $2,879,490.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Marc W. Rosenbaum sold 510 shares of the company's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $45,344.10. Following the completion of the transaction, the chief accounting officer now owns 8,174 shares in the company, valued at $726,750.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,117 shares of company stock valued at $666,982. Insiders own 0.68% of the company's stock.

About iRhythm Technologies

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.