37,500 Shares in iRhythm Technologies $IRTC Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. acquired a new stake in iRhythm Technologies (NASDAQ:IRTC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,500 shares of the company’s stock, valued at approximately $5,774,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of iRhythm Technologies in the first quarter worth about $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of iRhythm Technologies in the second quarter valued at approximately $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in iRhythm Technologies during the 1st quarter worth $50,000. CWM LLC raised its position in iRhythm Technologies by 54.3% during the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after purchasing an additional 182 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of iRhythm Technologies by 61.9% during the 1st quarter. US Bancorp DE now owns 978 shares of the company’s stock worth $102,000 after buying an additional 374 shares in the last quarter.

Insider Buying and Selling at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 8,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the transaction, the chief financial officer owned 26,470 shares in the company, valued at $5,490,936.80. This trade represents a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Quentin S. Blackford sold 14,059 shares of iRhythm Technologies stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $182.94, for a total value of $2,571,953.46. Following the sale, the chief executive officer directly owned 164,979 shares of the company’s stock, valued at approximately $30,181,258.26. This represents a 7.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 27,059 shares of company stock worth $5,106,473. 1.10% of the stock is owned by insiders.

iRhythm Technologies Price Performance

Shares of IRTC stock opened at $177.82 on Friday. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -110.45 and a beta of 1.13. iRhythm Technologies has a fifty-two week low of $71.00 and a fifty-two week high of $212.00. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. The stock’s 50-day simple moving average is $176.61 and its 200-day simple moving average is $159.65.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.30. The business had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. iRhythm Technologies’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.26) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on IRTC. Truist Financial boosted their price target on shares of iRhythm Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Citigroup boosted their price objective on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Canaccord Genuity Group upped their target price on iRhythm Technologies from $193.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on iRhythm Technologies from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $201.57.

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.