Eagle Asset Management Inc. Boosts Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Eagle Asset Management Inc. boosted its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 44.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,655 shares of the company’s stock after acquiring an additional 31,193 shares during the period. Eagle Asset Management Inc. owned about 0.32% of iRhythm Technologies worth $7,473,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock worth $52,501,000 after acquiring an additional 195,246 shares during the last quarter. Mackenzie Financial Corp increased its stake in iRhythm Technologies by 5.9% in the second 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 during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of iRhythm Technologies by 14.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company’s stock worth $51,192,000 after buying an additional 60,560 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of iRhythm Technologies by 12.3% during the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after buying an additional 58,668 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in iRhythm Technologies by 272.0% in the 3rd 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.

Insiders Place Their Bets

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar purchased 6,664 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the acquisition, the director now owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. The trade was a 54.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IRTC. JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Oppenheimer cut their price target on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group boosted their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Robert W. Baird cut their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.50.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $73.99 on Monday. The firm has a market capitalization of $2.32 billion, a PE ratio of -15.22 and a beta of 1.23. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11. The firm’s 50-day simple moving average is $72.76 and its 200 day simple moving average is $81.93. 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 (NASDAQ:IRTC) last announced its quarterly earnings results 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 net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same period last year, the company earned ($0.89) EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts predict that iRhythm Technologies, Inc. will post -3.44 EPS for the current fiscal year.

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.