Segall Bryant & Hamill LLC Decreases Holdings in iRhythm Technologies $IRTC

Segall Bryant & Hamill LLC decreased its stake in iRhythm Technologies (NASDAQ:IRTC) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,796 shares of the company’s stock after selling 11,901 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.30% of iRhythm Technologies worth $11,778,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of iRhythm Technologies in the third quarter valued at approximately $30,000. Employees Retirement System of Texas purchased a new stake in shares of iRhythm Technologies during the third quarter worth approximately $36,000. Torren Management LLC purchased a new stake in shares of iRhythm Technologies during the fourth quarter worth approximately $53,000. Smartleaf Asset Management LLC raised its stake in iRhythm Technologies by 63.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 323 shares of the company’s stock valued at $58,000 after purchasing an additional 125 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in iRhythm Technologies in the 3rd quarter valued at $69,000.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $117.17 on Monday. iRhythm Technologies has a 12-month low of $100.85 and a 12-month high of $212.00. The firm has a market capitalization of $3.85 billion, a P/E ratio of -136.24 and a beta of 1.30. The firm has a 50-day moving average price of $113.83 and a 200 day moving average price of $125.63. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on IRTC shares. JPMorgan Chase & Co. lowered their target price on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Bank of America decreased their price target on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. BTIG Research restated a “buy” rating and set a $185.00 price target on shares of iRhythm Technologies in a research report on Monday, June 22nd. Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group cut their price objective on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $184.71.

Insider Buying and Selling

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the acquisition, the director owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. The trade was a 26.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.98% of the company’s stock.

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.