ProShare Advisors LLC Sells 413 Shares of iRhythm Technologies $IRTC

ProShare Advisors LLC trimmed its position in iRhythm Technologies (NASDAQ:IRTC) by 5.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,540 shares of the company’s stock after selling 413 shares during the period. ProShare Advisors LLC’s holdings in iRhythm Technologies were worth $1,007,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IRTC. Xponance Inc. grew its holdings in iRhythm Technologies by 6.1% in the 1st quarter. Xponance Inc. now owns 2,390 shares of the company’s stock worth $250,000 after acquiring an additional 137 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of iRhythm Technologies by 3.1% during the first quarter. Hsbc Holdings PLC now owns 4,590 shares of the company’s stock valued at $474,000 after acquiring an additional 138 shares during the last quarter. CWM LLC boosted its holdings 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 purchasing an additional 182 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of iRhythm Technologies by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 4,769 shares of the company’s stock worth $734,000 after purchasing an additional 194 shares during the period. Finally, MCF Advisors LLC bought a new stake in shares of iRhythm Technologies in the first quarter worth about $25,000.

Insider Transactions at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 8,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $207.44, for a total transaction of $1,659,520.00. Following the sale, the chief financial officer owned 26,470 shares of the company’s stock, valued at $5,490,936.80. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sumi Shrishrimal sold 653 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $167.12, for a total transaction of $109,129.36. Following the completion of the sale, the executive vice president 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 SEC filing for this sale provides additional information. Insiders have sold 27,712 shares of company stock valued at $5,215,603 in the last three months. 0.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IRTC shares. Wells Fargo & Company upped their price target on iRhythm Technologies from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Loop Capital set a $220.00 target price on iRhythm Technologies in a research note on Friday, October 31st. The Goldman Sachs Group upped their target price on iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $193.00 to $244.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Evercore ISI reduced their price objective on shares of iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $201.57.

iRhythm Technologies Stock Up 1.4%

Shares of NASDAQ:IRTC opened at $170.82 on Monday. The firm has a market capitalization of $5.50 billion, a P/E ratio of -106.10 and a beta of 1.13. 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 has a 50 day moving average price of $177.90 and a 200-day moving average price of $158.54. iRhythm Technologies has a 52-week low of $71.00 and a 52-week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.30. The company had revenue of $192.88 million for the quarter, compared to analysts’ expectations of $184.75 million. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.26) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate 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.