Van ECK Associates Corp Acquires New Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Van ECK Associates Corp acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) in the third quarter, Holdings Channel reports. The firm acquired 390 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors have also recently made changes to their positions in IRTC. Focused Wealth Management Inc acquired a new position in shares of iRhythm Technologies in the third quarter valued at approximately $50,000. First Horizon Advisors Inc. acquired a new position in shares of iRhythm Technologies in the second quarter valued at approximately $53,000. Point72 Hong Kong Ltd acquired a new position in shares of iRhythm Technologies in the second quarter valued at approximately $85,000. Captrust Financial Advisors lifted its stake in iRhythm Technologies by 92.0% in the second quarter. Captrust Financial Advisors now owns 935 shares of the company’s stock worth $101,000 after acquiring an additional 448 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in iRhythm Technologies by 9.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,126 shares of the company’s stock worth $122,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Activity at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 12,699 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 89,280 shares in the company, valued at approximately $10,927,872. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRTC. Needham & Company LLC decreased their price target on shares of iRhythm Technologies from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, November 2nd. Morgan Stanley decreased their price target on shares of iRhythm Technologies from $165.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. Oppenheimer decreased their price target on shares of iRhythm Technologies from $175.00 to $166.00 in a research note on Wednesday, November 2nd. Citigroup decreased their price target on shares of iRhythm Technologies from $144.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, December 12th. Finally, StockNews.com downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

iRhythm Technologies Stock Down 0.2 %

Shares of NASDAQ:IRTC opened at $99.90 on Friday. The company has a market capitalization of $3.01 billion, a PE ratio of -23.12 and a beta of 1.44. The company has a current ratio of 3.42, a quick ratio of 3.25 and a debt-to-equity ratio of 0.15. iRhythm Technologies, Inc. has a twelve month low of $85.74 and a twelve month high of $169.54. The firm has a 50 day simple moving average of $99.53 and a 200-day simple moving average of $123.62.

iRhythm Technologies (NASDAQ:IRTC – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.63) earnings per share for the quarter, topping 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. On average, equities analysts predict that iRhythm Technologies, Inc. will post -3.82 EPS for the current fiscal year.

iRhythm Technologies 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.