UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 22,503 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 363,526 shares of the company’s stock after selling 22,503 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in iRhythm Technologies were worth $26,988,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. SeaCrest Wealth Management LLC grew its holdings in shares of iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after acquiring an additional 150 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System grew its holdings in iRhythm Technologies by 3.4% during the second quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after purchasing an additional 287 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in iRhythm Technologies by 6.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,909 shares of the company’s stock worth $851,000 after purchasing an additional 482 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its holdings in iRhythm Technologies by 22.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after purchasing an additional 567 shares during the period.

Insider Activity

In other news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the transaction, the director now directly owns 18,941 shares in the company, valued at approximately $1,423,605.56. This trade represents a 54.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were 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 of the company’s stock, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IRTC. Truist Financial lifted their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Citigroup reduced their price target on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Wells Fargo & Company reiterated an “equal weight” rating and set a $86.00 price target on shares of iRhythm Technologies in a report on Tuesday. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average price target of $106.45.

iRhythm Technologies Stock Up 0.9 %

NASDAQ IRTC opened at $86.80 on Thursday. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The company has a 50 day moving average of $75.12 and a 200-day moving average of $81.35. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -17.86 and a beta of 1.26.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $146.69 million. During the same quarter in the previous year, the firm posted ($0.89) earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities research analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share 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.