iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP reduced its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 528,291 shares of the company’s stock after selling 80,789 shares during the quarter. Westfield Capital Management Co. LP owned 1.69% of iRhythm Technologies worth $39,220,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Algert Global LLC raised its position in iRhythm Technologies by 332.8% in the third quarter. Algert Global LLC now owns 13,560 shares of the company’s stock worth $1,007,000 after acquiring an additional 10,427 shares in the last quarter. Eagle Asset Management Inc. increased its stake in iRhythm Technologies by 44.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after purchasing an additional 31,193 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in iRhythm Technologies by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company’s stock worth $18,983,000 after purchasing an additional 4,173 shares during the last quarter. Intech Investment Management LLC purchased a new stake in iRhythm Technologies during the third quarter worth $702,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in iRhythm Technologies by 38.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after purchasing an additional 195,246 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IRTC. The Goldman Sachs Group assumed coverage on iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 price target for the company. Needham & Company LLC dropped their price objective on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup decreased their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

iRhythm Technologies Trading Up 0.1 %

NASDAQ IRTC opened at $73.99 on Monday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11. The company’s 50 day moving average price is $72.76 and its 200 day moving average price is $81.93.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.89) EPS. As a group, equities research analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar bought 6,664 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the purchase, the director now directly owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. The trade was a 54.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares in the company, valued at approximately $12,380,103.89. This trade represents a 9.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.