Jump Financial LLC Takes Position in iRhythm Technologies $IRTC

Jump Financial LLC acquired a new position in iRhythm Technologies (NASDAQ:IRTC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 62,795 shares of the company’s stock, valued at approximately $9,668,000. Jump Financial LLC owned 0.20% of iRhythm Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in iRhythm Technologies by 169.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock worth $94,535,000 after purchasing an additional 568,261 shares during the period. Champlain Investment Partners LLC grew its position in shares of iRhythm Technologies by 13.3% in the first quarter. Champlain Investment Partners LLC now owns 822,791 shares of the company’s stock valued at $86,130,000 after purchasing an additional 96,529 shares during the period. Geode Capital Management LLC increased its stake in shares of iRhythm Technologies by 2.3% during the second quarter. Geode Capital Management LLC now owns 767,336 shares of the company’s stock worth $118,154,000 after purchasing an additional 16,967 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of iRhythm Technologies by 6.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 552,916 shares of the company’s stock worth $85,127,000 after purchasing an additional 32,334 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of iRhythm Technologies during the first quarter valued at approximately $54,249,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IRTC. BTIG Research increased their price objective on iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on iRhythm Technologies from $190.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. Bank of America started coverage on iRhythm Technologies in a report on Wednesday, August 20th. They issued a “buy” rating and a $200.00 target price for the company. Finally, Loop Capital set a $220.00 price target on shares of iRhythm Technologies in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target of $205.71.

iRhythm Technologies Trading Down 2.8%

IRTC opened at $173.33 on Tuesday. The business has a fifty day simple moving average of $178.48 and a 200-day simple moving average of $163.32. iRhythm Technologies has a 52 week low of $81.87 and a 52 week high of $212.00. The firm has a market cap of $5.58 billion, a P/E ratio of -107.66 and a beta of 1.10. 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 (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.30. The business had revenue of $192.88 million for the quarter, compared to analysts’ expectations of $184.75 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The business’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.26) earnings per share. On average, equities analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Patrick Michael Murphy sold 2,478 shares of iRhythm Technologies stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the completion of the transaction, the insider owned 53,281 shares in the company, valued at approximately $9,847,927.23. This trade represents a 4.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chad Patterson sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the transaction, the insider owned 43,387 shares of the company’s stock, valued at $8,019,219.21. This trade represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,817 shares of company stock valued at $4,741,235 in the last three months. 0.68% of the stock is currently owned by insiders.

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.