iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,526 shares of the company's stock after selling 22,503 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.16% of iRhythm Technologies worth $26,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company's stock valued at $5,935,000 after purchasing an additional 58,448 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company's stock worth $5,270,000 after buying an additional 38,344 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in iRhythm Technologies by 14.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company's stock valued at $51,192,000 after buying an additional 60,560 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of iRhythm Technologies during the 3rd quarter valued at about $1,497,000. Finally, Eagle Asset Management Inc. lifted its holdings in shares of iRhythm Technologies by 44.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company's stock worth $7,473,000 after acquiring an additional 31,193 shares during the period.

Insider Buying and Selling at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now owns 35,327 shares of the company's stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Quentin S. Blackford sold 16,145 shares of iRhythm Technologies 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 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 disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

iRhythm Technologies Price Performance

IRTC traded down $3.97 on Thursday, hitting $82.83. 137,878 shares of the company's stock were exchanged, compared to its average volume of 470,718. The stock has a fifty day moving average of $75.12 and a two-hundred day moving average of $81.35. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $124.11. 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 (NASDAQ:IRTC - Get Free Report) last issued its earnings results 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). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. During the same period in the prior year, the business earned ($0.89) earnings per share. iRhythm Technologies's quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IRTC shares. Truist Financial boosted their target price on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group began coverage on iRhythm Technologies in a research report on Friday, October 4th. They issued a "neutral" rating and a $78.00 target price on the stock. Needham & Company LLC decreased their target price on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a report on Thursday, October 31st. StockNews.com downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $86.00 price target on shares of iRhythm Technologies in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.45.

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.