Arrowstreet Capital Limited Partnership Acquires 65,930 Shares of iRhythm Technologies $IRTC

Arrowstreet Capital Limited Partnership boosted its stake in shares of iRhythm Technologies (NASDAQ:IRTC) by 12.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 606,969 shares of the company’s stock after buying an additional 65,930 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in iRhythm Technologies were worth $107,701,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new stake in iRhythm Technologies in the 3rd quarter valued at $3,439,800,000. Polar Capital Holdings Plc raised its position in iRhythm Technologies by 24,782.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock valued at $57,773,000 after buying an additional 334,558 shares during the last quarter. Holocene Advisors LP lifted its stake in iRhythm Technologies by 2,023.1% in the 2nd quarter. Holocene Advisors LP now owns 313,094 shares of the company’s stock valued at $48,204,000 after acquiring an additional 298,347 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in iRhythm Technologies by 45.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock worth $147,251,000 after acquiring an additional 259,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in iRhythm Technologies by 189.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,205 shares of the company’s stock worth $39,960,000 after acquiring an additional 147,329 shares during the last quarter.

Insider Activity at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the purchase, the director directly owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by company insiders.

iRhythm Technologies Trading Up 0.1%

Shares of iRhythm Technologies stock opened at $113.76 on Tuesday. The stock has a market cap of $3.74 billion, a P/E ratio of -132.28 and a beta of 1.27. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. iRhythm Technologies has a 12-month low of $101.75 and a 12-month high of $212.00. The business’s 50 day moving average is $117.01 and its 200-day moving average is $140.64.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating 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 business had revenue of $199.39 million during the quarter, compared to analysts’ expectations of $194.11 million. During the same period last year, the business earned ($0.97) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. Equities research analysts predict that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on IRTC shares. The Goldman Sachs Group lowered their price objective on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Wells Fargo & Company decreased their target price on shares of iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Weiss Ratings lowered shares of iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Truist Financial cut their price target on shares of iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Citigroup increased their price objective on shares of iRhythm Technologies from $155.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $187.38.

About iRhythm Technologies

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.