Champlain Investment Partners LLC Decreases Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Champlain Investment Partners LLC reduced its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.8% in the third quarter, HoldingsChannel reports. The firm owned 667,101 shares of the company’s stock after selling 72,164 shares during the period. Champlain Investment Partners LLC’s holdings in iRhythm Technologies were worth $49,526,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Eagle Asset Management Inc. raised its stake in iRhythm Technologies by 44.9% in the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after buying an additional 31,193 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in iRhythm Technologies by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company’s stock valued at $18,983,000 after buying an additional 4,173 shares during the last quarter. Intech Investment Management LLC purchased a new stake in iRhythm Technologies in the third quarter valued at about $702,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in iRhythm Technologies by 38.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after buying an additional 195,246 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in iRhythm Technologies by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 132,602 shares of the company’s stock valued at $9,844,000 after buying an additional 2,742 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price target on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer cut their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Needham & Company LLC cut their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $108.50.

iRhythm Technologies Stock Up 0.1 %

iRhythm Technologies stock opened at $73.99 on Friday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -15.22 and a beta of 1.23. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11. The business’s 50-day moving average price is $72.76 and its 200 day moving average price is $82.05. 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 (NASDAQ:IRTC) last posted its earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company 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 was up 18.4% on a year-over-year basis. During the same period last year, the business earned ($0.89) earnings per share. As a group, sell-side analysts anticipate that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Insider Buying and Selling

In other iRhythm Technologies 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 transaction, the chief executive officer now owns 159,929 shares in the company, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of the stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the transaction, the director now directly owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This represents a 54.28 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

iRhythm Technologies 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.