First Light Asset Management LLC Has $19.84 Million Position in iRhythm Technologies $IRTC

First Light Asset Management LLC raised its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,116 shares of the company’s stock after purchasing an additional 14,245 shares during the quarter. iRhythm Technologies accounts for approximately 1.8% of First Light Asset Management LLC’s portfolio, making the stock its 20th largest position. First Light Asset Management LLC’s holdings in iRhythm Technologies were worth $19,841,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of iRhythm Technologies by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock valued at $587,418,000 after buying an additional 70,420 shares in the last quarter. RTW Investments LP bought a new stake in shares of iRhythm Technologies during the fourth quarter worth about $209,732,000. Geode Capital Management LLC increased its position in shares of iRhythm Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock worth $152,337,000 after acquiring an additional 68,301 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of iRhythm Technologies by 45.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock worth $147,251,000 after acquiring an additional 259,800 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of iRhythm Technologies by 197.4% in the 4th quarter. Millennium Management LLC now owns 826,376 shares of the company’s stock worth $146,632,000 after acquiring an additional 548,519 shares during the last quarter.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $109.20 on Monday. iRhythm Technologies has a 52 week low of $100.85 and a 52 week high of $212.00. The firm has a 50-day moving average price of $113.59 and a two-hundred day moving average price of $127.90. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -126.98 and a beta of 1.27.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.21. The firm had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.97) EPS. On average, equities analysts expect that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. HC Wainwright restated a “buy” rating on shares of iRhythm Technologies in a report on Monday, June 1st. Wall Street Zen raised iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings upgraded iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. lowered their price target on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $184.71.

Insiders Place Their Bets

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $10.71 per share, with a total value of $56,891.52. Following the completion of the transaction, the director owned 25,611 shares in the company, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.98% of the company’s stock.

About iRhythm Technologies

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.