Artisan Partners Limited Partnership lessened its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get 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
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:IRTC – Get 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
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.
- Get a free copy of the StockNews.com research report on iRhythm Technologies (IRTC)
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