iRhythm Technologies $IRTC Position Increased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. raised its position in shares of iRhythm Technologies (NASDAQ:IRTC) by 34.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,549 shares of the company’s stock after buying an additional 5,025 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in iRhythm Technologies were worth $3,469,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IRTC. Westfield Capital Management Co. LP lifted its position in shares of iRhythm Technologies by 0.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 325,063 shares of the company’s stock worth $57,679,000 after purchasing an additional 1,083 shares in the last quarter. Vise Technologies Inc. lifted its position in shares of iRhythm Technologies by 37.0% in the fourth quarter. Vise Technologies Inc. now owns 1,727 shares of the company’s stock worth $306,000 after purchasing an additional 466 shares in the last quarter. State of Wyoming lifted its position in shares of iRhythm Technologies by 16.0% in the fourth quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after purchasing an additional 85 shares in the last quarter. One Capital Management LLC lifted its position in shares of iRhythm Technologies by 42.1% in the fourth quarter. One Capital Management LLC now owns 14,777 shares of the company’s stock worth $2,622,000 after purchasing an additional 4,378 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of iRhythm Technologies in the fourth quarter worth approximately $9,979,000.

Analyst Upgrades and Downgrades

IRTC has been the topic of several recent research reports. The Goldman Sachs Group cut their price objective on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings lowered shares of iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Citigroup raised their price objective on shares of iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating on shares of iRhythm Technologies in a research report on Monday, June 1st. Finally, Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.69.

Insider Activity

In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the transaction, the director directly owned 25,611 shares in the company, valued at $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is owned by corporate insiders.

iRhythm Technologies Stock Up 0.7%

IRTC opened at $108.11 on Friday. iRhythm Technologies has a fifty-two week low of $101.75 and a fifty-two week high of $212.00. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98. The firm’s fifty day moving average price is $117.67 and its two-hundred day moving average price is $143.49. The company has a market capitalization of $3.55 billion, a P/E ratio of -125.71 and a beta of 1.27.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. During the same quarter in the previous year, the company earned ($0.97) earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. On average, analysts anticipate that iRhythm Technologies will post 0.13 EPS for the current year.

iRhythm Technologies Profile

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.