Values First Advisors Inc. Acquires 322 Shares of iRhythm Technologies $IRTC

Values First Advisors Inc. raised its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,525 shares of the company’s stock after purchasing an additional 322 shares during the quarter. Values First Advisors Inc.’s holdings in iRhythm Technologies were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MCF Advisors LLC bought a new stake in shares of iRhythm Technologies in the first quarter valued at about $25,000. AlphaQuest LLC bought a new position in iRhythm Technologies in the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in iRhythm Technologies in the first quarter worth about $50,000. CWM LLC grew its stake in shares of iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company’s stock worth $54,000 after acquiring an additional 182 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of iRhythm Technologies by 61.9% during the first quarter. US Bancorp DE now owns 978 shares of the company’s stock worth $102,000 after acquiring an additional 374 shares during the last quarter.

Insider Buying and Selling

In other iRhythm Technologies news, insider Chad Patterson sold 2,555 shares of iRhythm Technologies stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $158.97, for a total transaction of $406,168.35. Following the transaction, the insider owned 43,667 shares of the company’s stock, valued at $6,941,742.99. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sumi Shrishrimal sold 653 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $167.12, for a total value of $109,129.36. Following the transaction, the executive vice president directly owned 34,032 shares in the company, valued at approximately $5,687,427.84. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,069 shares of company stock worth $7,627,986 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRTC has been the topic of a number of research analyst reports. William Blair upgraded iRhythm Technologies to a “strong-buy” rating in a research note on Friday, August 1st. Canaccord Genuity Group upped their target price on iRhythm Technologies from $170.00 to $193.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Needham & Company LLC upped their target price on iRhythm Technologies from $180.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upped their target price on iRhythm Technologies from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Morgan Stanley dropped their target price on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.85.

iRhythm Technologies Trading Up 3.0%

Shares of IRTC stock opened at $181.02 on Friday. The stock has a 50 day simple moving average of $172.67 and a 200-day simple moving average of $146.21. iRhythm Technologies has a 1-year low of $60.69 and a 1-year high of $187.57. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. The company has a market cap of $5.82 billion, a price-to-earnings ratio of -61.78 and a beta of 1.15.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.21. The firm had revenue of $186.69 million during the quarter, compared to the consensus estimate of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The firm’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

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.