Quantbot Technologies LP Sells 14,857 Shares of iRhythm Technologies $IRTC

Quantbot Technologies LP reduced its holdings in iRhythm Technologies (NASDAQ:IRTC) by 63.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,385 shares of the company’s stock after selling 14,857 shares during the quarter. Quantbot Technologies LP’s holdings in iRhythm Technologies were worth $1,442,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in iRhythm Technologies during the 3rd quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its holdings in iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 99 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of iRhythm Technologies during the third quarter worth about $35,000. Assetmark Inc. raised its holdings in shares of iRhythm Technologies by 273.9% in the third quarter. Assetmark Inc. now owns 415 shares of the company’s stock valued at $71,000 after purchasing an additional 304 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in iRhythm Technologies in the 2nd quarter valued at $72,000.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 25,540 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $3,458,626.80. Following the transaction, the chief executive officer directly owned 186,126 shares of the company’s stock, valued at approximately $25,205,182.92. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sumi Shrishrimal sold 6,217 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $841,906.14. Following the transaction, the executive vice president directly owned 39,182 shares in the company, valued at approximately $5,306,026.44. This represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 94,509 shares of company stock valued at $12,734,195 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

iRhythm Technologies Trading Down 0.8%

IRTC opened at $126.95 on Friday. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -90.68 and a beta of 1.09. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00. The company’s 50 day moving average price is $157.46 and its two-hundred day moving average price is $169.55. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.02 by $0.27. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The firm had revenue of $208.89 million for the quarter, compared to the consensus estimate of $202.61 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. As a group, research analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a report on Monday, January 12th. Needham & Company LLC restated a “buy” rating and issued a $244.00 price target on shares of iRhythm Technologies in a research note on Monday, January 12th. Wells Fargo & Company lowered their price objective on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Robert W. Baird dropped their target price on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.62.

iRhythm Technologies Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.