Slate Path Capital LP Acquires 135,000 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Slate Path Capital LP increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTCFree Report) by 38.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,000 shares of the company’s stock after acquiring an additional 135,000 shares during the quarter. iRhythm Technologies accounts for approximately 2.8% of Slate Path Capital LP’s portfolio, making the stock its 15th largest position. Slate Path Capital LP owned approximately 1.59% of iRhythm Technologies worth $60,155,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. FMR LLC raised its stake in shares of iRhythm Technologies by 40,606.5% in the first quarter. FMR LLC now owns 2,252,698 shares of the company’s stock valued at $279,402,000 after buying an additional 2,247,164 shares during the period. Artisan Partners Limited Partnership lifted its holdings in iRhythm Technologies by 230.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,395,746 shares of the company’s stock valued at $130,740,000 after purchasing an additional 973,450 shares during the last quarter. Norges Bank bought a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $54,467,000. Capital Research Global Investors boosted its stake in iRhythm Technologies by 60.9% in 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 during the period. Finally, Braidwell LP bought a new position in shares of iRhythm Technologies in the fourth quarter worth approximately $46,616,000.

Analyst Ratings Changes

IRTC has been the topic of a number of recent research reports. Robert W. Baird initiated coverage on shares of iRhythm Technologies in a research report on Tuesday, July 18th. They set an “outperform” rating and a $130.00 price target on the stock. downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. BTIG Research dropped their price target on shares of iRhythm Technologies from $165.00 to $140.00 in a research report on Thursday, June 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $149.00 price objective on shares of iRhythm Technologies in a research note on Friday, August 4th. Finally, Oppenheimer boosted their price target on iRhythm Technologies from $125.00 to $165.00 in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.30.

View Our Latest Stock Analysis on iRhythm Technologies

iRhythm Technologies Stock Down 4.5 %

NASDAQ:IRTC traded down $4.54 during mid-day trading on Tuesday, hitting $95.63. 189,096 shares of the company’s stock were exchanged, compared to its average volume of 351,616. The company has a market cap of $2.92 billion, a PE ratio of -29.54 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 2.55. iRhythm Technologies, Inc. has a one year low of $85.74 and a one year high of $160.96. The business has a fifty day moving average price of $104.60 and a 200 day moving average price of $113.87.

iRhythm Technologies (NASDAQ:IRTCGet Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.14. The firm had revenue of $124.13 million during the quarter, compared to analyst estimates of $120.03 million. iRhythm Technologies had a negative net margin of 21.95% and a negative return on equity of 41.92%. Equities analysts predict that iRhythm Technologies, Inc. will post -3.03 EPS for the current year.

About iRhythm Technologies

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding IRTC? Visit to get the latest 13F filings and insider trades for iRhythm Technologies, Inc. (NASDAQ:IRTCFree Report).

Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with's FREE daily email newsletter.