Braidwell LP Acquires 256,200 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Braidwell LP lifted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 48.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 782,557 shares of the company’s stock after purchasing an additional 256,200 shares during the period. iRhythm Technologies comprises approximately 1.6% of Braidwell LP’s holdings, making the stock its 24th biggest position. Braidwell LP owned approximately 2.50% of iRhythm Technologies worth $58,097,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after purchasing an additional 1,594 shares during the period. nVerses Capital LLC lifted its stake in shares of iRhythm Technologies by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after purchasing an additional 1,600 shares during the period. SeaCrest Wealth Management LLC raised its stake in iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after acquiring an additional 150 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in iRhythm Technologies during the 2nd quarter worth approximately $297,000.

iRhythm Technologies Stock Up 8.0 %

Shares of IRTC stock opened at $89.02 on Friday. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The stock’s fifty day moving average price is $73.83 and its 200 day moving average price is $81.79. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -18.32 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.89) EPS. On average, research analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the acquisition, the director now owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. The trade was a 54.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IRTC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Truist Financial increased their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price for the company. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC reduced their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.50.

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.