iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 0.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 20,676 shares of the company’s stock after selling 194 shares during the period. Mutual of America Capital Management LLC’s holdings in iRhythm Technologies were worth $1,535,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in iRhythm Technologies by 272.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock valued at $5,935,000 after acquiring an additional 58,448 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock valued at $5,270,000 after purchasing an additional 38,344 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of iRhythm Technologies by 14.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company’s stock worth $51,192,000 after purchasing an additional 60,560 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in iRhythm Technologies during the 2nd quarter worth approximately $2,071,000. Finally, The Manufacturers Life Insurance Company increased its position in iRhythm Technologies by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 183,046 shares of the company’s stock worth $19,703,000 after purchasing an additional 11,031 shares in the last quarter.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on IRTC. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective for the company. Canaccord Genuity Group upped their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Robert W. Baird lowered their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Oppenheimer reduced their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.50.

iRhythm Technologies Stock Up 11.3 %

Shares of NASDAQ IRTC opened at $82.32 on Tuesday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11. The stock’s 50-day simple moving average is $72.93 and its 200-day simple moving average is $81.81. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -16.94 and a beta of 1.23.

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 business had revenue of $147.54 million for the quarter, compared to analysts’ expectations of $146.69 million. During the same quarter in the prior year, the firm earned ($0.89) earnings per share. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

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.