Williamson Legacy Group LLC Has $2.19 Million Position in iRhythm Technologies $IRTC

Williamson Legacy Group LLC raised its stake in iRhythm Technologies (NASDAQ:IRTC) by 61.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,348 shares of the company’s stock after purchasing an additional 4,697 shares during the period. iRhythm Technologies accounts for approximately 1.7% of Williamson Legacy Group LLC’s investment portfolio, making the stock its 19th biggest position. Williamson Legacy Group LLC’s holdings in iRhythm Technologies were worth $2,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Clearstead Advisors LLC increased its holdings in shares of iRhythm Technologies by 203.7% in the fourth quarter. Clearstead Advisors LLC now owns 662 shares of the company’s stock valued at $117,000 after purchasing an additional 444 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of iRhythm Technologies by 24.0% in the fourth quarter. Legal & General Group Plc now owns 52,070 shares of the company’s stock valued at $9,239,000 after purchasing an additional 10,065 shares during the last quarter. Lisanti Capital Growth LLC increased its holdings in shares of iRhythm Technologies by 1.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 16,995 shares of the company’s stock valued at $3,016,000 after purchasing an additional 165 shares during the last quarter. Legato Capital Management LLC increased its holdings in shares of iRhythm Technologies by 48.8% in the fourth quarter. Legato Capital Management LLC now owns 4,665 shares of the company’s stock valued at $828,000 after purchasing an additional 1,530 shares during the last quarter. Finally, ABN Amro Investment Solutions increased its holdings in shares of iRhythm Technologies by 42.6% in the fourth quarter. ABN Amro Investment Solutions now owns 10,201 shares of the company’s stock valued at $1,810,000 after purchasing an additional 3,047 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Bank of America reduced their target price on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $198.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.85.

iRhythm Technologies Trading Down 1.8%

IRTC opened at $114.45 on Wednesday. iRhythm Technologies has a twelve month low of $108.81 and a twelve month high of $212.00. The company has a 50-day simple moving average of $118.99 and a 200 day simple moving average of $146.95. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -133.08 and a beta of 1.33.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The business had revenue of $199.39 million during the quarter, compared to analysts’ expectations of $194.11 million. During the same quarter in the prior year, the business posted ($0.97) earnings per share. iRhythm Technologies’s revenue was up 25.6% compared to the same quarter last year. Analysts predict that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

Insider Transactions at iRhythm Technologies

In other news, insider Chad Patterson sold 4,444 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $128.44, for a total value of $570,787.36. Following the completion of the transaction, the insider owned 58,164 shares of the company’s stock, valued at approximately $7,470,584.16. This represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Minang Turakhia sold 4,027 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $128.45, for a total transaction of $517,268.15. Following the completion of the transaction, the executive vice president directly owned 54,906 shares of the company’s stock, valued at $7,052,675.70. This trade represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 17,826 shares of company stock valued at $2,289,620. 0.98% of the stock is owned by company insiders.

iRhythm Technologies Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.