Values First Advisors Inc. Takes $380,000 Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Values First Advisors Inc. acquired a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,121 shares of the company’s stock, valued at approximately $380,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. raised its holdings 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 buying an additional 15,381 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of iRhythm Technologies during the first quarter worth $1,925,000. Capstone Investment Advisors LLC acquired a new position in shares of iRhythm Technologies during the first quarter worth $1,078,000. Assenagon Asset Management S.A. grew its stake in shares of iRhythm Technologies by 361.1% in the second quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock worth $5,270,000 after purchasing an additional 38,344 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in iRhythm Technologies in the first quarter valued at $58,311,000.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $51,366.08. Following the transaction, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at $773,477.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the sale, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chad Patterson sold 3,012 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the transaction, the insider now owns 37,133 shares in the company, valued at $2,772,349.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,072 shares of company stock valued at $372,748. 0.68% of the stock is owned by insiders.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $78.12 on Friday. The company has a current ratio of 6.92, a quick ratio of 6.76 and a debt-to-equity ratio of 6.50. The firm has a fifty day simple moving average of $68.28 and a two-hundred day simple moving average of $86.84. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $124.11. The firm has a market capitalization of $2.43 billion, a PE ratio of -18.47 and a beta of 1.22.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share 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 net margin of 24.50% and a negative return on equity of 84.14%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.61) EPS. Analysts forecast that iRhythm Technologies, Inc. will post -2.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on IRTC. Canaccord Genuity Group lifted their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group began coverage on iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 price objective on the stock. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Robert W. Baird lowered their price target on shares of iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Oppenheimer reduced 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.90.

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.