Natixis Purchases 17,500 Shares of iRhythm Technologies $IRTC

Natixis increased its position in iRhythm Technologies (NASDAQ:IRTC) by 291.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,500 shares of the company’s stock after purchasing an additional 17,500 shares during the quarter. Natixis owned approximately 0.07% of iRhythm Technologies worth $3,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $54,249,000. Quantbot Technologies LP acquired a new position in shares of iRhythm Technologies during the 2nd quarter worth approximately $3,578,000. Cim Investment Management Inc. raised its stake in iRhythm Technologies by 97.6% in the 1st quarter. Cim Investment Management Inc. now owns 11,530 shares of the company’s stock valued at $1,122,000 after acquiring an additional 5,696 shares during the period. Ethic Inc. acquired a new stake in iRhythm Technologies during the 2nd quarter valued at $242,000. Finally, Walleye Capital LLC bought a new position in iRhythm Technologies during the second quarter worth $11,366,000.

Insider Buying and Selling

In other iRhythm Technologies news, insider Chad Patterson sold 280 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $51,752.40. Following the sale, the insider directly owned 43,387 shares in the company, valued at $8,019,219.21. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick Michael Murphy sold 2,478 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $458,008.74. Following the completion of the transaction, the insider directly owned 53,281 shares in the company, valued at approximately $9,847,927.23. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 24,817 shares of company stock valued at $4,741,235. Company insiders own 1.10% of the company’s stock.

iRhythm Technologies Stock Down 0.7%

Shares of IRTC opened at $172.37 on Thursday. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32. iRhythm Technologies has a 12 month low of $84.17 and a 12 month high of $212.00. The firm’s 50 day moving average is $178.61 and its 200-day moving average is $163.60. The stock has a market capitalization of $5.55 billion, a PE ratio of -107.06 and a beta of 1.10.

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, 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 business had revenue of $192.88 million during the quarter, compared to analysts’ expectations of $184.75 million. During the same period in the previous year, the company posted ($1.26) earnings per share. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. Equities research analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Analysts Set New Price Targets

IRTC has been the topic of several research analyst reports. Bank of America began coverage on shares of iRhythm Technologies in a research report on Wednesday, August 20th. They issued a “buy” rating and a $200.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Wednesday, October 8th. Canaccord Genuity Group increased their price target on shares of iRhythm Technologies from $193.00 to $212.00 and gave the company a “buy” rating in a report on Friday, October 31st. Needham & Company LLC boosted their price objective on iRhythm Technologies from $193.00 to $244.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Evercore ISI decreased their target price on iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average price target of $205.71.

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.