Castleark Management LLC Has $8.91 Million Stock Holdings in iRhythm Technologies $IRTC

Castleark Management LLC decreased its position in shares of iRhythm Technologies (NASDAQ:IRTC) by 14.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,193 shares of the company’s stock after selling 8,200 shares during the quarter. Castleark Management LLC owned approximately 0.16% of iRhythm Technologies worth $8,906,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. Ascent Group LLC increased its position in shares of iRhythm Technologies by 0.7% in the 4th quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock valued at $1,701,000 after buying an additional 70 shares in the last quarter. WoodTrust Financial Corp increased its position in shares of iRhythm Technologies by 0.7% in the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after buying an additional 70 shares in the last quarter. US Bancorp DE increased its position in shares of iRhythm Technologies by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after buying an additional 75 shares in the last quarter. Finally, State of Wyoming increased its position in shares of iRhythm Technologies by 16.0% in the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock valued at $109,000 after buying an additional 85 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on IRTC. BTIG Research restated a “buy” rating and issued a $185.00 price objective on shares of iRhythm Technologies in a research report on Wednesday. Wells Fargo & Company lowered their target price on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, May 1st. HC Wainwright reiterated a “buy” rating on shares of iRhythm Technologies in a report on Monday, June 1st. Weiss Ratings cut iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Finally, Canaccord Genuity Group lowered their target price on iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating for the company in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.38.

Insider Activity at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $10.71 per share, with a total value of $56,891.52. Following the completion of the purchase, the director directly owned 25,611 shares of the company’s stock, valued at $274,293.81. The trade was a 26.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.98% of the company’s stock.

iRhythm Technologies Trading Up 0.9%

Shares of IRTC stock opened at $113.65 on Friday. The firm has a 50 day moving average price of $117.07 and a two-hundred day moving average price of $141.46. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. The company has a market capitalization of $3.73 billion, a PE ratio of -132.15 and a beta of 1.27. iRhythm Technologies has a 12-month low of $101.75 and a 12-month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The company had revenue of $199.39 million for the quarter, compared to analysts’ expectations of $194.11 million. During the same period last year, the firm earned ($0.97) earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, analysts predict that iRhythm Technologies will post 0.13 earnings per share for the current year.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.