Artisan Partners Limited Partnership Sells 40,063 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Artisan Partners Limited Partnership lessened its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,470 shares of the company’s stock after selling 40,063 shares during the quarter. Artisan Partners Limited Partnership owned 0.96% of iRhythm Technologies worth $31,163,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. bought a new position in iRhythm Technologies in the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC raised its position in iRhythm Technologies by 9.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,126 shares of the company’s stock valued at $122,000 after purchasing an additional 100 shares during the last quarter. CIBC Asset Management Inc bought a new position in iRhythm Technologies in the 1st quarter valued at $216,000. Pearl River Capital LLC bought a new position in iRhythm Technologies in the 1st quarter valued at $232,000. Finally, Bluestein R H & Co. LLC bought a new position in iRhythm Technologies in the 1st quarter valued at $236,000. Institutional investors own 98.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IRTC shares. BTIG Research cut their price objective on iRhythm Technologies to $175.00 in a research report on Thursday, October 20th. Morgan Stanley dropped their target price on iRhythm Technologies from $172.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, October 11th. Citigroup dropped their target price on iRhythm Technologies from $147.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, November 2nd. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. Finally, Wolfe Research upgraded iRhythm Technologies from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $158.36.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, COO Douglas Devine sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 27,702 shares of the company’s stock, valued at $3,462,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other iRhythm Technologies news, COO Douglas Devine sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 27,702 shares of the company’s stock, valued at $3,462,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 12,699 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $122.40, for a total value of $1,554,357.60. Following the completion of the transaction, the chief executive officer now directly owns 89,280 shares of the company’s stock, valued at $10,927,872. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,789 shares of company stock valued at $2,186,447. Company insiders own 1.64% of the company’s stock.

iRhythm Technologies Stock Up 3.3 %

Shares of iRhythm Technologies stock opened at $105.51 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.42 and a debt-to-equity ratio of 0.15. iRhythm Technologies, Inc. has a 12 month low of $87.77 and a 12 month high of $169.54. The business has a fifty day simple moving average of $121.02 and a 200 day simple moving average of $132.16. The stock has a market cap of $3.18 billion, a PE ratio of -24.42 and a beta of 1.48.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.19. iRhythm Technologies had a negative return on equity of 39.31% and a negative net margin of 33.79%. The firm had revenue of $103.88 million during the quarter, compared to analysts’ expectations of $106.43 million. Research analysts predict that iRhythm Technologies, Inc. will post -3.82 EPS for the current year.

About iRhythm Technologies

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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

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