Dynamic Technology Lab Private Ltd Takes $1.50 Million Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Dynamic Technology Lab Private Ltd bought a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 3rd quarter, Holdings Channel.com reports. The firm bought 20,173 shares of the company’s stock, valued at approximately $1,497,000.

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

iRhythm Technologies Trading Up 11.3 %

NASDAQ:IRTC opened at $82.32 on Tuesday. The company has a market cap of $2.58 billion, a PE ratio of -16.94 and a beta of 1.23. The business’s 50 day moving average is $72.93 and its two-hundred day moving average is $81.81. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) 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 quarter last year, the business earned ($0.89) earnings per share. On average, analysts predict that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Insider Transactions at iRhythm Technologies

In other news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar acquired 6,664 shares of iRhythm Technologies stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $75.16 per share, with a total value of $500,866.24. Following 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 disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

IRTC has been the topic of a number of recent research reports. Oppenheimer reduced their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Citigroup lowered their price objective 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.50.

About iRhythm Technologies

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.