Bridgewater Associates LP Has $731,000 Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bridgewater Associates LP grew its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 79.6% during the 3rd quarter, Holdings Channel reports. The firm owned 9,853 shares of the company’s stock after purchasing an additional 4,367 shares during the quarter. Bridgewater Associates LP’s holdings in iRhythm Technologies were worth $731,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after buying an additional 277 shares in the last quarter. nVerses Capital LLC boosted its holdings in shares of iRhythm Technologies by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after acquiring an additional 1,600 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after acquiring an additional 150 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in iRhythm Technologies by 22.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after acquiring an additional 567 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in iRhythm Technologies during the 3rd quarter valued at $243,000.

Insider Activity at iRhythm Technologies

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

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $87.90 on Tuesday. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $2.75 billion, a P/E ratio of -18.09 and a beta of 1.23. The business has a 50-day moving average of $74.53 and a 200-day moving average of $81.38. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11.

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

Analyst Ratings Changes

IRTC has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Truist Financial upped their price target on shares of iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Robert W. Baird dropped their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Citigroup lowered their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target of $108.50.

iRhythm Technologies Company 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.