iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,239 shares of the company’s stock after purchasing an additional 200 shares during the period. Handelsbanken Fonder AB’s holdings in iRhythm Technologies were worth $668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRTC. WCM Investment Management LLC boosted its position in shares of iRhythm Technologies by 61.4% during the 4th quarter. WCM Investment Management LLC now owns 133,195 shares of the company’s stock worth $14,497,000 after acquiring an additional 50,673 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in iRhythm Technologies by 4.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,835 shares of the company’s stock valued at $7,796,000 after purchasing an additional 3,307 shares in the last quarter. International Assets Investment Management LLC acquired a new position in iRhythm Technologies in the fourth quarter valued at approximately $92,000. WoodTrust Financial Corp increased its stake in iRhythm Technologies by 10.9% in the fourth quarter. WoodTrust Financial Corp now owns 13,732 shares of the company’s stock valued at $1,470,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in iRhythm Technologies during the fourth quarter worth approximately $161,000.

Insider Transactions at iRhythm Technologies

In other news, EVP Daniel G. Wilson sold 1,261 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $153,791.56. Following the transaction, the executive vice president now directly owns 32,967 shares in the company, valued at $4,020,655.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Patrick Michael Murphy sold 7,615 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $928,725.40. Following the completion of the sale, the insider now directly owns 48,962 shares of the company’s stock, valued at approximately $5,971,405.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the completion of the sale, the executive vice president now owns 32,967 shares in the company, valued at $4,020,655.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,052 shares of company stock worth $4,274,942. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Down 2.9 %

IRTC opened at $108.64 on Tuesday. The business has a 50 day moving average price of $111.16 and a two-hundred day moving average price of $102.64. iRhythm Technologies, Inc. has a 52 week low of $70.24 and a 52 week high of $134.45. The company has a market cap of $3.38 billion, a PE ratio of -26.82 and a beta of 1.30. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. The company had revenue of $132.51 million for the quarter, compared to analysts’ expectations of $131.14 million. As a group, research analysts anticipate that iRhythm Technologies, Inc. will post -3.14 EPS for the current year.

Wall Street Analysts Forecast Growth

IRTC has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Needham & Company LLC boosted their target price on iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.11.

iRhythm Technologies Company 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.