iRhythm Technologies $IRTC Shares Bought by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. raised its position in iRhythm Technologies (NASDAQ:IRTC) by 34.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,549 shares of the company’s stock after acquiring an additional 5,025 shares during the period. Cookson Peirce & Co. Inc. owned approximately 0.06% of iRhythm Technologies worth $3,469,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IRTC. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies during the third quarter worth about $30,000. GAMMA Investing LLC raised its position in iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after acquiring an additional 60 shares during the last quarter. Smartleaf Asset Management LLC raised its position in iRhythm Technologies by 100.0% during the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 99 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in iRhythm Technologies during the third quarter worth about $34,000. Finally, Optiver Holding B.V. acquired a new position in iRhythm Technologies during the third quarter worth about $35,000.

Insider Activity at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar purchased 5,312 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the transaction, the director owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. The trade was a 26.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 0.7%

Shares of IRTC stock opened at $108.11 on Friday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -125.71 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 fifty-two week low of $101.75 and a fifty-two week high of $212.00. The firm’s 50 day moving average price is $117.67 and its two-hundred day moving average price is $143.49.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Bank of America lowered their price target on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a report on Monday, May 18th. Wall Street Zen downgraded shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, HC Wainwright reiterated a “buy” rating on shares of iRhythm Technologies in a report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.69.

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.