WCM Investment Management LLC Has $10.28 Million Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

WCM Investment Management LLC reduced its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 141,133 shares of the company’s stock after selling 142 shares during the quarter. WCM Investment Management LLC’s holdings in iRhythm Technologies were worth $10,284,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Westfield Capital Management Co. LP bought a new position in iRhythm Technologies in the 1st quarter worth approximately $58,311,000. Champlain Investment Partners LLC increased its position in iRhythm Technologies by 104.1% during the first quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after acquiring an additional 293,710 shares during the period. First Light Asset Management LLC raised its stake in iRhythm Technologies by 176.8% during the 1st quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock valued at $48,823,000 after purchasing an additional 268,829 shares during the last quarter. Mackenzie Financial Corp grew its position in iRhythm Technologies by 5.9% in the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock worth $153,745,000 after purchasing an additional 80,091 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of iRhythm Technologies by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 511,905 shares of the company’s stock worth $59,381,000 after purchasing an additional 64,755 shares during the period.

Wall Street Analysts Forecast Growth

IRTC has been the topic of several research reports. Oppenheimer lowered their price target on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley cut their target price on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Robert W. Baird decreased their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. reduced their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $88.93 on Tuesday. The firm has a 50 day simple moving average of $70.91 and a 200 day simple moving average of $83.88. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm has a market cap of $2.78 billion, a P/E ratio of -18.30 and a beta of 1.23.

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

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the transaction, the chief executive officer now owns 159,929 shares in the company, valued at approximately $12,380,103.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other iRhythm Technologies news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $75.16 per share, with a total value of $500,866.24. Following the purchase, the director now owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

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.