iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 17.3% in the 3rd quarter, Holdings Channel reports. The firm owned 9,275 shares of the company’s stock after acquiring an additional 1,366 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in iRhythm Technologies were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 150 shares during the last quarter. Ascent Group LLC boosted its stake in iRhythm Technologies by 4.6% during the first quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock worth $462,000 after buying an additional 175 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after buying an additional 277 shares in the last quarter. Arizona State Retirement System increased its stake in shares of iRhythm Technologies by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after acquiring an additional 287 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of iRhythm Technologies by 4.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,157 shares of the company’s stock worth $1,136,000 after acquiring an additional 400 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IRTC shares. Truist Financial upped 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. Robert W. Baird cut their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Oppenheimer reduced their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and an average price target of $108.50.

Insider Buying and Selling

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

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $75.47 on Wednesday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11. The company has a market cap of $2.36 billion, a P/E ratio of -15.53 and a beta of 1.23. The business has a fifty day moving average of $72.85 and a two-hundred day moving average of $82.56.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) 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 firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.89) EPS. As a group, analysts predict that iRhythm Technologies, Inc. will post -3.44 earnings per share 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.