Bank Pictet & Cie Europe AG Buys 567 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bank Pictet & Cie Europe AG raised its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 22.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,105 shares of the company’s stock after acquiring an additional 567 shares during the period. Bank Pictet & Cie Europe AG’s holdings in iRhythm Technologies were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in iRhythm Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after buying an additional 35,694 shares during the last quarter. WoodTrust Financial Corp boosted its holdings in shares of iRhythm Technologies by 3.6% during the first quarter. WoodTrust Financial Corp now owns 14,232 shares of the company’s stock worth $1,651,000 after purchasing an additional 500 shares during the period. Diversified Trust Co boosted its holdings in shares of iRhythm Technologies by 148.7% during the first quarter. Diversified Trust Co now owns 4,934 shares of the company’s stock worth $572,000 after purchasing an additional 2,950 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of iRhythm Technologies by 13.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 415,026 shares of the company’s stock worth $48,143,000 after purchasing an additional 49,168 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in iRhythm Technologies by 768.4% during the 1st quarter. Principal Financial Group Inc. now owns 62,592 shares of the company’s stock valued at $7,261,000 after purchasing an additional 55,384 shares during the period.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the sale, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mervin Smith sold 688 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $51,366.08. Following the sale, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,072 shares of company stock worth $372,748. 0.68% of the stock is owned by insiders.

iRhythm Technologies Stock Up 21.7 %

Shares of iRhythm Technologies stock opened at $75.59 on Wednesday. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -17.87 and a beta of 1.22. The company has a 50-day moving average of $68.13 and a 200 day moving average of $86.93. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The business had revenue of $148.05 million during the quarter, compared to the consensus estimate of $146.15 million. During the same quarter last year, the firm earned ($0.61) earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that iRhythm Technologies, Inc. will post -2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC dropped their price objective on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group raised their price target on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Truist Financial upped their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Oppenheimer cut their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.90.

iRhythm Technologies 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.