Loomis Sayles & Co. L P Makes New $39.34 Million Investment in iRhythm Technologies $IRTC

Loomis Sayles & Co. L P purchased a new stake in shares of iRhythm Technologies (NASDAQ:IRTC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 255,517 shares of the company’s stock, valued at approximately $39,339,000. Loomis Sayles & Co. L P owned 0.80% of iRhythm Technologies as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in shares of iRhythm Technologies in the second quarter worth approximately $363,000. Virtue Capital Management LLC purchased a new stake in iRhythm Technologies during the second quarter valued at approximately $875,000. XTX Topco Ltd raised its position in iRhythm Technologies by 570.3% in the second quarter. XTX Topco Ltd now owns 16,504 shares of the company’s stock worth $2,541,000 after acquiring an additional 14,042 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of iRhythm Technologies by 2.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,256 shares of the company’s stock worth $501,000 after acquiring an additional 93 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of iRhythm Technologies by 1,914.3% during the 2nd quarter. Prudential Financial Inc. now owns 45,825 shares of the company’s stock valued at $7,055,000 after acquiring an additional 43,550 shares during the period.

Insider Activity at iRhythm Technologies

In other news, CFO Daniel G. Wilson sold 8,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the transaction, the chief financial officer owned 26,470 shares of the company’s stock, valued at approximately $5,490,936.80. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 14,059 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the transaction, the chief executive officer directly owned 164,979 shares of the company’s stock, valued at $30,181,258.26. The trade was a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 27,059 shares of company stock worth $5,106,473. Company insiders own 1.10% of the company’s stock.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $187.84 on Friday. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. iRhythm Technologies has a twelve month low of $81.10 and a twelve month high of $212.00. The business has a 50-day moving average price of $177.78 and a 200-day moving average price of $161.53. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of -116.67 and a beta of 1.13.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The company had revenue of $192.88 million for the quarter, compared to the consensus estimate of $184.75 million. During the same quarter last year, the company earned ($1.26) EPS. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IRTC has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. upped their price target on iRhythm Technologies from $190.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Bank of America started coverage on iRhythm Technologies in a research report on Wednesday, August 20th. They set a “buy” rating and a $200.00 price objective on the stock. Citigroup boosted their price objective on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Evercore ISI reduced their target price on shares of iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average target price of $201.57.

About iRhythm Technologies

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.