Handelsbanken Fonder AB Buys 2,600 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Handelsbanken Fonder AB increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 34.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,239 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in iRhythm Technologies were worth $760,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of iRhythm Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after acquiring an additional 35,694 shares in the last quarter. Mackenzie Financial Corp increased its stake in iRhythm Technologies by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock valued at $153,745,000 after purchasing an additional 80,091 shares in the last quarter. Blair William & Co. IL increased its stake in iRhythm Technologies by 3.5% during the 1st quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after purchasing an additional 27,842 shares in the last quarter. Champlain Investment Partners LLC increased its stake in iRhythm Technologies by 104.1% during the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after purchasing an additional 293,710 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in iRhythm Technologies by 12.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock valued at $57,717,000 after purchasing an additional 58,668 shares in the last quarter.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of recent research reports. Oppenheimer decreased their price target on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group initiated coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Needham & Company LLC reduced their target price on shares of iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $116.10.

Insider Buying and Selling

In related news, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the transaction, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the sale, the insider now directly owns 37,133 shares of the company’s stock, valued at $2,772,349.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mervin Smith sold 688 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $51,366.08. Following the sale, the executive vice president now directly owns 10,360 shares in the company, valued at approximately $773,477.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,072 shares of company stock valued at $372,748. 0.68% of the stock is owned by insiders.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $57.07 on Friday. The company’s 50-day moving average is $68.97 and its 200 day moving average is $89.52. The company has a debt-to-equity ratio of 6.50, a quick ratio of 6.76 and a current ratio of 6.92. The company has a market capitalization of $1.78 billion, a P/E ratio of -13.49 and a beta of 1.22. iRhythm Technologies, Inc. has a fifty-two week low of $56.50 and a fifty-two week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.28. The company had revenue of $148.05 million for the quarter, compared to the consensus estimate of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.61) EPS. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -2.66 earnings per share for the current year.

iRhythm Technologies Profile

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.