Next Century Growth Investors LLC Has $30.67 Million Stake in iRhythm Technologies $IRTC

Next Century Growth Investors LLC cut its stake in shares of iRhythm Technologies (NASDAQ:IRTC) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 172,838 shares of the company’s stock after selling 16,244 shares during the quarter. iRhythm Technologies accounts for 2.1% of Next Century Growth Investors LLC’s investment portfolio, making the stock its 7th biggest position. Next Century Growth Investors LLC’s holdings in iRhythm Technologies were worth $30,668,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IRTC. Entropy Technologies LP lifted its position in shares of iRhythm Technologies by 123.8% in the fourth quarter. Entropy Technologies LP now owns 6,689 shares of the company’s stock valued at $1,187,000 after buying an additional 3,700 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of iRhythm Technologies by 12.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 606,969 shares of the company’s stock valued at $107,701,000 after buying an additional 65,930 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $71,000. Marshall Wace LLP lifted its position in shares of iRhythm Technologies by 182.2% in the fourth quarter. Marshall Wace LLP now owns 3,564 shares of the company’s stock valued at $632,000 after buying an additional 2,301 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of iRhythm Technologies by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 196,075 shares of the company’s stock valued at $34,792,000 after buying an additional 727 shares during the last quarter.

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar bought 5,312 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the purchase, the director owned 25,611 shares in the company, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.98% of the company’s stock.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $113.65 on Friday. The firm has a market cap of $3.73 billion, a P/E ratio of -132.15 and a beta of 1.27. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03. iRhythm Technologies has a 1-year low of $101.75 and a 1-year high of $212.00. The business’s 50 day moving average is $117.07 and its 200-day moving average is $141.46.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.21. The company had revenue of $199.39 million for 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 quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.97) earnings per share. Equities research analysts predict that iRhythm Technologies will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $185.00 price objective on shares of iRhythm Technologies in a research report on Wednesday. Wall Street Zen cut iRhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. The Goldman Sachs Group cut their price objective on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Weiss Ratings cut iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. cut their price objective on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.38.

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.