Quantbot Technologies LP Buys Shares of 23,242 iRhythm Technologies $IRTC

Quantbot Technologies LP purchased a new position in shares of iRhythm Technologies (NASDAQ:IRTC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,242 shares of the company’s stock, valued at approximately $3,578,000. Quantbot Technologies LP owned 0.07% of iRhythm Technologies at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in iRhythm Technologies by 169.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock worth $94,535,000 after buying an additional 568,261 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of iRhythm Technologies during the first quarter valued at $54,249,000. Millennium Management LLC boosted its holdings in shares of iRhythm Technologies by 563.8% during the first quarter. Millennium Management LLC now owns 399,746 shares of the company’s stock valued at $41,845,000 after acquiring an additional 339,529 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of iRhythm Technologies during the second quarter worth about $39,339,000. Finally, Next Century Growth Investors LLC acquired a new stake in shares of iRhythm Technologies in the 1st quarter worth about $21,796,000.

iRhythm Technologies Trading Down 0.9%

iRhythm Technologies stock opened at $181.35 on Friday. The firm has a 50 day simple moving average of $178.25 and a 200-day simple moving average of $162.53. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.63 and a quick ratio of 4.50. The stock has a market capitalization of $5.84 billion, a PE ratio of -112.64 and a beta of 1.10. iRhythm Technologies has a 12-month low of $81.10 and a 12-month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.30. The firm had revenue of $192.88 million for the quarter, compared to analysts’ expectations of $184.75 million. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.26) earnings per share. As a group, equities research analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Transactions at iRhythm Technologies

In other news, CFO Daniel G. Wilson sold 8,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the sale, the chief financial officer owned 26,470 shares in the company, valued at $5,490,936.80. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Patrick Michael Murphy sold 2,478 shares of iRhythm Technologies stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the transaction, the insider directly owned 53,281 shares in the company, valued at approximately $9,847,927.23. The trade was a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,817 shares of company stock worth $4,741,235 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IRTC has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday, October 31st. BTIG Research lifted their price target on iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a report on Friday, October 31st. Robert W. Baird boosted their price objective on iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Loop Capital set a $220.00 price objective on iRhythm Technologies in a report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average target price of $205.71.

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.