Vanguard Group Inc. Has $557.27 Million Stock Holdings in iRhythm Technologies $IRTC

Vanguard Group Inc. boosted its position in shares of iRhythm Technologies (NASDAQ:IRTC) by 0.1% in the third quarter, Holdings Channel.com reports. The firm owned 3,240,099 shares of the company’s stock after purchasing an additional 4,439 shares during the period. Vanguard Group Inc. owned about 0.10% of iRhythm Technologies worth $557,265,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of iRhythm Technologies during the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC lifted its stake in iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after acquiring an additional 99 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in iRhythm Technologies in the second quarter worth approximately $39,000. Assetmark Inc. raised its position in shares of iRhythm Technologies by 273.9% in the third quarter. Assetmark Inc. now owns 415 shares of the company’s stock valued at $71,000 after purchasing an additional 304 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of iRhythm Technologies in the second quarter worth $72,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Freedom Capital raised shares of iRhythm Technologies to a “strong-buy” rating in a research report on Thursday, January 15th. Canaccord Genuity Group lowered their target price on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Wall Street Zen raised iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group raised their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company decreased their price objective on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average price target of $211.62.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Chad Patterson sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $51,752.40. Following the transaction, the insider directly owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $145.70, for a total transaction of $773,958.40. Following the sale, the director owned 20,299 shares of the company’s stock, valued at $2,957,564.30. The trade was a 20.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,070 shares of company stock worth $1,283,720 over the last ninety days. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $137.10 on Wednesday. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The firm has a 50 day simple moving average of $163.48 and a 200 day simple moving average of $171.19. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00. The firm has a market cap of $4.43 billion, a P/E ratio of -97.93 and a beta of 1.06.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.02 by $0.27. The company had revenue of $208.89 million during the quarter, compared to analysts’ expectations of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The business’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. Sell-side analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

iRhythm Technologies 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.