iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 733,308 shares of the company’s stock after acquiring an additional 5,423 shares during the period. Geode Capital Management LLC’s holdings in iRhythm Technologies were worth $54,451,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of IRTC. Nisa Investment Advisors LLC increased its holdings in iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after buying an additional 277 shares during the period. Quarry LP acquired a new stake in shares of iRhythm Technologies in the third quarter worth $59,000. nVerses Capital LLC raised its holdings in shares of iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after purchasing an additional 1,600 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in iRhythm Technologies by 22.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock valued at $231,000 after purchasing an additional 567 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in iRhythm Technologies in the third quarter valued at $243,000.

iRhythm Technologies Stock Performance

IRTC opened at $90.39 on Monday. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -18.60 and a beta of 1.26. The firm’s fifty day simple moving average is $80.38 and its two-hundred day simple moving average is $81.25. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. During the same quarter in the previous year, the firm posted ($0.89) earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. Equities analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Truist Financial boosted their price target on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.27.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar purchased 6,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the transaction, the director now owns 18,941 shares of the company’s stock, valued at $1,423,605.56. The trade was a 54.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. The trade was a 9.17 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

About iRhythm Technologies

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.