20,173 Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,173 shares of the company’s stock, valued at approximately $1,497,000. Dynamic Technology Lab Private Ltd owned 0.06% of iRhythm Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in IRTC. Mackenzie Financial Corp increased its holdings in shares of iRhythm Technologies by 5.9% in the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock valued at $153,745,000 after purchasing an additional 80,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in iRhythm Technologies by 38.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after buying an additional 195,246 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of iRhythm Technologies by 12.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock valued at $57,717,000 after acquiring an additional 58,668 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of iRhythm Technologies by 9.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company’s stock worth $38,603,000 after acquiring an additional 44,387 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of iRhythm Technologies by 1.1% in the 2nd quarter. Fiera Capital Corp now owns 393,197 shares of the company’s stock worth $42,324,000 after acquiring an additional 4,284 shares during the period.

iRhythm Technologies Stock Up 11.3 %

IRTC stock opened at $82.32 on Tuesday. The company has a 50 day moving average price of $72.93 and a two-hundred day moving average price of $81.81. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The stock has a market capitalization of $2.58 billion, a P/E ratio of -16.94 and a beta of 1.23. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same period in the prior year, the firm earned ($0.89) EPS. iRhythm Technologies’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, sell-side analysts expect that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

IRTC has been the subject of several research reports. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Robert W. Baird decreased their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial raised their target price 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. The Goldman Sachs Group began coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $108.50.

iRhythm Technologies 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.