Swiss National Bank Sells 300 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Swiss National Bank lessened its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) by 0.4% in the second quarter, Holdings Channel.com reports. The firm owned 69,300 shares of the company’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in iRhythm Technologies were worth $7,486,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in iRhythm Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,714,221 shares of the company’s stock worth $427,409,000 after purchasing an additional 33,521 shares in the last quarter. BlackRock Inc. increased its holdings in iRhythm Technologies by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,093,147 shares of the company’s stock worth $329,607,000 after purchasing an additional 8,440 shares in the last quarter. LTS One Management LP increased its holdings in iRhythm Technologies by 51.0% during the 2nd quarter. LTS One Management LP now owns 1,525,000 shares of the company’s stock worth $164,746,000 after purchasing an additional 515,000 shares in the last quarter. Capital Research Global Investors increased its holdings in iRhythm Technologies by 60.9% during the 1st quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock worth $222,237,000 after purchasing an additional 534,300 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in iRhythm Technologies by 8.6% during the 1st quarter. Invesco Ltd. now owns 805,511 shares of the company’s stock worth $126,844,000 after purchasing an additional 63,816 shares in the last quarter. Institutional investors own 98.98% of the company’s stock.

Insiders Place Their Bets

In other iRhythm Technologies news, COO Douglas Devine sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief operating officer now directly owns 27,702 shares in the company, valued at $3,462,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $122.57, for a total transaction of $367,710.00. Following the completion of the sale, the executive vice president now directly owns 34,562 shares in the company, valued at $4,236,264.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Douglas Devine sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the sale, the chief operating officer now owns 27,702 shares of the company’s stock, valued at $3,462,750. The disclosure for this sale can be found here. Insiders sold 17,789 shares of company stock worth $2,186,447 over the last three months. Insiders own 1.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on iRhythm Technologies from $172.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, October 11th. StockNews.com upgraded shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, November 3rd. BTIG Research reduced their price objective on shares of iRhythm Technologies to $175.00 in a research note on Thursday, October 20th. Canaccord Genuity Group reduced their price objective on shares of iRhythm Technologies from $198.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, November 2nd. Finally, Oppenheimer reduced their price objective on shares of iRhythm Technologies from $175.00 to $166.00 in a research note on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.36.

iRhythm Technologies Trading Up 0.9 %

Shares of NASDAQ:IRTC opened at $102.18 on Wednesday. iRhythm Technologies, Inc. has a 52-week low of $86.73 and a 52-week high of $169.54. The company has a market capitalization of $3.08 billion, a P/E ratio of -23.65 and a beta of 1.48. The company has a 50-day simple moving average of $121.02 and a 200 day simple moving average of $132.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.25 and a current ratio of 3.42.

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

iRhythm Technologies Company Profile

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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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