29,502 Shares in iRhythm Technologies $IRTC Bought by Dearborn Partners LLC

Dearborn Partners LLC bought a new position in shares of iRhythm Technologies (NASDAQ:IRTC) during the second quarter, HoldingsChannel.com reports. The firm bought 29,502 shares of the company’s stock, valued at approximately $5,691,000.

Several other large investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of iRhythm Technologies in the third quarter valued at $30,000. Employees Retirement System of Texas acquired a new stake in iRhythm Technologies in the 3rd quarter valued at about $36,000. Torren Management LLC purchased a new position in iRhythm Technologies during the 4th quarter valued at about $53,000. Smartleaf Asset Management LLC increased its holdings in iRhythm Technologies by 63.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 323 shares of the company’s stock valued at $58,000 after acquiring an additional 125 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in iRhythm Technologies by 1,146.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 399 shares of the company’s stock valued at $71,000 after acquiring an additional 367 shares in the last quarter.

iRhythm Technologies Stock Down 2.4%

Shares of NASDAQ:IRTC opened at $116.33 on Friday. The stock’s 50-day moving average price is $118.91 and its two-hundred day moving average price is $120.95. The company has a current ratio of 3.86, a quick ratio of 3.74 and a debt-to-equity ratio of 3.50. iRhythm Technologies has a 12-month low of $100.85 and a 12-month high of $212.00. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -270.53 and a beta of 1.30.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.62. The company had revenue of $224.17 million during the quarter, compared to the consensus estimate of $219.30 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.32) EPS. On average, research analysts forecast that iRhythm Technologies will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IRTC shares. HC Wainwright reaffirmed a “buy” rating on shares of iRhythm Technologies in a report on Monday, June 1st. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating for the company in a research note on Monday, June 1st. 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. Citigroup upped their target price on iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Truist Financial increased their target price on iRhythm Technologies from $160.00 to $168.00 and gave the company a “buy” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.93.

About iRhythm Technologies

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.