Capstone Investment Advisors LLC Takes $1.08 Million Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Capstone Investment Advisors LLC acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,289 shares of the company’s stock, valued at approximately $1,078,000.

A number of other hedge funds also recently made changes to their positions in IRTC. International Assets Investment Management LLC purchased a new stake in shares of iRhythm Technologies in the fourth quarter worth about $92,000. Quent Capital LLC bought a new stake in iRhythm Technologies during the fourth quarter worth approximately $161,000. SeaCrest Wealth Management LLC bought a new stake in iRhythm Technologies during the fourth quarter worth approximately $205,000. Diversified Trust Co bought a new stake in iRhythm Technologies during the fourth quarter worth approximately $212,000. Finally, CHICAGO TRUST Co NA bought a new stake in iRhythm Technologies during the first quarter worth approximately $249,000.

iRhythm Technologies Trading Up 2.8 %

Shares of IRTC traded up $2.75 during mid-day trading on Friday, reaching $99.51. 331,431 shares of the company’s stock traded hands, compared to its average volume of 360,632. The stock’s 50-day moving average is $97.52 and its two-hundred day moving average is $106.87. iRhythm Technologies, Inc. has a 12 month low of $70.24 and a 12 month high of $124.11. 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 (NASDAQ:IRTC) last released its earnings results on Thursday, May 2nd. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.48). The business had revenue of $131.93 million for the quarter, compared to the consensus estimate of $128.87 million. iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. On average, equities analysts anticipate that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Canaccord Genuity Group reduced their price objective on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Wolfe Research raised iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Thursday, June 20th. Finally, Needham & Company LLC boosted their price objective on iRhythm Technologies from $137.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies has an average rating of “Moderate Buy” and an average target price of $131.22.

Insider Buying and Selling

In related news, CAO Marc W. Rosenbaum sold 510 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $45,344.10. Following the transaction, the chief accounting officer now owns 8,174 shares of the company’s stock, valued at $726,750.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other iRhythm Technologies news, EVP Sumi Shrishrimal sold 1,131 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $100,557.21. Following the completion of the sale, the executive vice president now owns 23,298 shares in the company, valued at $2,071,425.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Marc W. Rosenbaum sold 510 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $45,344.10. Following the sale, the chief accounting officer now owns 8,174 shares of the company’s stock, valued at approximately $726,750.34. The disclosure for this sale can be found here. Insiders have sold a total of 3,045 shares of company stock valued at $294,234 over the last quarter. 0.68% of the stock is owned by corporate insiders.

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.