SeaCrest Wealth Management LLC Grows Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

SeaCrest Wealth Management LLC boosted its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,125 shares of the company’s stock after buying an additional 150 shares during the period. SeaCrest Wealth Management LLC’s holdings in iRhythm Technologies were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRTC. Westfield Capital Management Co. LP purchased a new stake in iRhythm Technologies in the first quarter worth $58,311,000. Champlain Investment Partners LLC increased its stake in iRhythm Technologies by 104.1% in the first quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after purchasing an additional 293,710 shares during the period. First Light Asset Management LLC increased its stake in iRhythm Technologies by 176.8% in the first quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock worth $48,823,000 after purchasing an additional 268,829 shares during the period. Norges Bank purchased a new stake in iRhythm Technologies in the fourth quarter worth $26,522,000. Finally, Capital Research Global Investors increased its stake in iRhythm Technologies by 5.1% in the fourth quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock worth $267,132,000 after purchasing an additional 121,709 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRTC. Morgan Stanley reduced their target price on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group cut their price target 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. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Oppenheimer cut their price target on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $118.67.

Insider Transactions at iRhythm Technologies

In other news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Patterson sold 3,012 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the sale, the insider now owns 37,133 shares in the company, valued at approximately $2,772,349.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,117 shares of company stock worth $666,982. Insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Down 1.2 %

iRhythm Technologies stock traded down $0.86 during trading hours on Tuesday, reaching $68.82. The stock had a trading volume of 434,128 shares, compared to its average volume of 431,516. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -16.47 and a beta of 1.25. The company has a debt-to-equity ratio of 7.13, a current ratio of 7.10 and a quick ratio of 6.95. The business’s 50 day moving average price is $90.52 and its 200-day moving average price is $101.22. iRhythm Technologies, Inc. has a 52 week low of $63.65 and a 52 week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.28. The business had revenue of $148.05 million during the quarter, compared to the consensus estimate of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.61) earnings per share. Sell-side analysts anticipate 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.