iRhythm Technologies $IRTC Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its holdings in iRhythm Technologies (NASDAQ:IRTC) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,822 shares of the company’s stock after selling 7,495 shares during the quarter. TimesSquare Capital Management LLC’s holdings in iRhythm Technologies were worth $10,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the last quarter. Ascent Group LLC increased its stake in iRhythm Technologies by 0.7% in the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock valued at $1,701,000 after purchasing an additional 70 shares during the last quarter. WoodTrust Financial Corp increased its stake in iRhythm Technologies by 0.7% in the fourth quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after purchasing an additional 70 shares during the last quarter. US Bancorp DE increased its stake in iRhythm Technologies by 7.8% in the third quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after purchasing an additional 75 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in iRhythm Technologies by 0.3% in the third quarter. Alliancebernstein L.P. now owns 37,489 shares of the company’s stock valued at $6,448,000 after purchasing an additional 95 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IRTC shares. Wells Fargo & Company dropped their target price on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Wall Street Zen upgraded iRhythm Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. Robert W. Baird dropped their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Needham & Company LLC upped their price target on iRhythm Technologies from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.85.

Insider Buying and Selling

In related news, EVP Mervin Smith sold 1,352 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $128.44, for a total value of $173,650.88. Following the completion of the transaction, the executive vice president owned 25,612 shares of the company’s stock, valued at approximately $3,289,605.28. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar purchased 5,312 shares of iRhythm Technologies stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $10.71 per share, with a total value of $56,891.52. Following the acquisition, the director directly owned 25,611 shares of the company’s stock, valued at $274,293.81. The trade was a 26.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 94,509 shares of company stock valued at $12,734,195. 0.98% of the stock is owned by insiders.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $113.84 on Wednesday. The firm has a market capitalization of $3.74 billion, a PE ratio of -132.37 and a beta of 1.33. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98. The business has a 50-day moving average of $119.17 and a two-hundred day moving average of $149.31. iRhythm Technologies has a 12 month low of $108.81 and a 12 month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.21. The company had revenue of $199.39 million during the quarter, compared to analyst estimates of $194.11 million. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The firm’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.97) earnings per share. As a group, research analysts forecast that iRhythm Technologies will post 0.13 earnings per share for the current year.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.