Wilmington Savings Fund Society FSB Purchases Shares of 1,600 iRhythm Technologies, Inc. (NASDAQ:IRTC)

Wilmington Savings Fund Society FSB purchased a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $119,000.

A number of other hedge funds have also modified their holdings of the business. Quarry LP purchased a new stake in iRhythm Technologies in the 3rd quarter valued at approximately $59,000. Nisa Investment Advisors LLC lifted its position in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares in the last quarter. nVerses Capital LLC lifted its position in shares of iRhythm Technologies by 400.0% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after acquiring an additional 1,600 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in iRhythm Technologies by 22.3% during the 3rd 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 in the last quarter. Finally, Aigen Investment Management LP acquired a new position in iRhythm Technologies in the 3rd quarter valued at about $243,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Robert W. Baird cut their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Citigroup dropped their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.27.

Insider Activity

In related news, Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the purchase, the director now owns 18,941 shares in the company, valued at $1,423,605.56. This represents a 54.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $87.66 on Friday. The firm has a market capitalization of $2.74 billion, a PE ratio of -18.04 and a beta of 1.26. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month 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 business has a 50-day moving average of $79.71 and a two-hundred day moving average of $81.24.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the company posted ($0.89) EPS. As a group, research analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current 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.