EFG Asset Management North America Corp. Makes New $643,000 Investment in iRhythm Technologies, Inc. (NASDAQ:IRTC)

EFG Asset Management North America Corp. purchased a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,982 shares of the company's stock, valued at approximately $643,000.

A number of other hedge funds also recently made changes to their positions in IRTC. Headlands Technologies LLC raised its position in iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company's stock worth $50,000 after purchasing an additional 426 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings 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 worth $67,000 after buying an additional 277 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of iRhythm Technologies during the 4th quarter worth approximately $92,000. SG Americas Securities LLC acquired a new stake in iRhythm Technologies in the 1st quarter valued at $126,000. Finally, Russell Investments Group Ltd. grew its position 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 valued at $185,000 after acquiring an additional 1,594 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IRTC. StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Friday, August 16th. Wolfe Research upgraded shares of iRhythm Technologies from a "peer perform" rating to an "outperform" rating and set a $115.00 price target on the stock in a research report on Thursday, June 20th. Needham & Company LLC dropped their price objective on shares of iRhythm Technologies from $138.00 to $119.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Robert W. Baird cut their target price on shares of iRhythm Technologies from $120.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer decreased their price target on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.67.

Insider Transactions at iRhythm Technologies

In related news, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the transaction, the chief financial officer now directly owns 24,428 shares in the company, valued at $1,718,265.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brice Bobzien sold 1,372 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumi Shrishrimal sold 1,131 shares of the firm's stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $100,557.21. Following the transaction, the executive vice president now owns 23,298 shares in the company, valued at approximately $2,071,425.18. The disclosure for this sale can be found here. Insiders sold a total of 8,117 shares of company stock worth $666,982 in the last quarter. 0.68% of the stock is owned by company insiders.

iRhythm Technologies Trading Down 0.3 %

IRTC traded down $0.20 during mid-day trading on Monday, reaching $69.81. The stock had a trading volume of 481,501 shares, compared to its average volume of 431,940. The firm's fifty day simple moving average is $88.17 and its two-hundred day simple moving average is $99.48. The stock has a market capitalization of $2.17 billion, a P/E ratio of -16.50 and a beta of 1.25. iRhythm Technologies, Inc. has a 52 week low of $63.65 and a 52 week high of $124.11. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10.

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 (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.28. The business had revenue of $148.05 million for the quarter, compared to analysts' expectations of $146.15 million. iRhythm Technologies had a negative return on equity of 75.14% and a negative net margin of 24.50%. The firm's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.61) earnings per share. On average, equities analysts predict that iRhythm Technologies, Inc. will post -3.22 EPS for the current 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.