Stephens Investment Management Group LLC Purchases 42,205 Shares of iRhythm Technologies $IRTC

Stephens Investment Management Group LLC boosted its position in iRhythm Technologies (NASDAQ:IRTC) by 8.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 561,530 shares of the company’s stock after buying an additional 42,205 shares during the quarter. Stephens Investment Management Group LLC’s holdings in iRhythm Technologies were worth $66,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in IRTC. Measured Wealth Private Client Group LLC purchased a new position in shares of iRhythm Technologies during the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its position in shares of iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of iRhythm Technologies in the third quarter valued at approximately $34,000. Employees Retirement System of Texas purchased a new stake in shares of iRhythm Technologies during the 3rd quarter valued at approximately $36,000. Finally, Torren Management LLC purchased a new stake in shares of iRhythm Technologies during the 4th quarter valued at approximately $53,000.

Insider Transactions at iRhythm Technologies

In related news, Director Abhijit Y. Talwalkar purchased 5,312 shares of the business’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $10.71 per share, with a total value of $56,891.52. Following the purchase, the director directly owned 25,611 shares in the company, valued at approximately $274,293.81. This represents a 26.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IRTC has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating and issued a $185.00 price objective on shares of iRhythm Technologies in a research note on Monday, June 22nd. Truist Financial dropped their target price on iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings raised iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Bank of America reduced their price target on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Wall Street Zen lowered iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $187.38.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $126.48 on Friday. The stock has a market cap of $4.16 billion, a P/E ratio of -147.07 and a beta of 1.27. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. The business’s 50-day moving average price is $115.19 and its two-hundred day moving average price is $134.56. iRhythm Technologies has a twelve month low of $100.85 and a twelve month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.21. The company had revenue of $199.39 million during the quarter, compared to analyst estimates of $194.11 million. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.iRhythm Technologies’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.97) earnings per share. As a group, equities analysts predict that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

iRhythm Technologies Company 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.