Man Group plc Sells 72,730 Shares of Irhythm Technologies Inc (NASDAQ:IRTC)

Man Group plc cut its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 38.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,137 shares of the company’s stock after selling 72,730 shares during the period. Man Group plc owned approximately 0.46% of Irhythm Technologies worth $8,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiera Capital Corp acquired a new position in shares of Irhythm Technologies during the second quarter worth about $23,766,000. Massachusetts Financial Services Co. MA raised its position in Irhythm Technologies by 25.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 233,325 shares of the company’s stock valued at $17,292,000 after buying an additional 47,896 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Irhythm Technologies by 18.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 698,325 shares of the company’s stock valued at $51,753,000 after acquiring an additional 107,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Irhythm Technologies by 93.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the company’s stock valued at $144,000 after acquiring an additional 882 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in Irhythm Technologies in the 2nd quarter valued at approximately $477,000.

Irhythm Technologies stock opened at $69.80 on Friday. The firm has a market capitalization of $1.74 billion, a PE ratio of -36.93 and a beta of 1.73. The company’s 50-day moving average is $69.33 and its 200-day moving average is $73.79. Irhythm Technologies Inc has a fifty-two week low of $56.24 and a fifty-two week high of $98.13. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.66 and a quick ratio of 2.59.

Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Tuesday, November 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.34). Irhythm Technologies had a negative net margin of 26.45% and a negative return on equity of 97.79%. The firm had revenue of $55.96 million during the quarter, compared to analyst estimates of $53.76 million. During the same quarter last year, the business posted ($0.43) earnings per share. The company’s revenue for the quarter was up 46.9% on a year-over-year basis. As a group, analysts expect that Irhythm Technologies Inc will post -1.96 EPS for the current year.

Several research analysts recently commented on IRTC shares. Oppenheimer assumed coverage on shares of Irhythm Technologies in a report on Tuesday, October 22nd. They set a “market perform” rating for the company. ValuEngine upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. BidaskClub upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Zacks Investment Research cut Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $99.56.

Irhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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