Holocene Advisors LP Has $13.44 Million Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Holocene Advisors LP lessened its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 82.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,985 shares of the company’s stock after selling 861,685 shares during the period. Holocene Advisors LP owned about 0.58% of iRhythm Technologies worth $13,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after buying an additional 277 shares during the period. nVerses Capital LLC raised its holdings in shares of iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after acquiring an additional 1,600 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of iRhythm Technologies by 7.6% during the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after acquiring an additional 150 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of iRhythm Technologies during the second quarter worth $297,000. Finally, Bank Pictet & Cie Europe AG raised its holdings in shares of iRhythm Technologies by 22.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after acquiring an additional 567 shares in the last quarter.

iRhythm Technologies Trading Down 2.2 %

iRhythm Technologies stock opened at $86.01 on Wednesday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The business’s 50-day simple moving average is $74.84 and its 200-day simple moving average is $81.32. The firm has a market capitalization of $2.69 billion, a PE ratio of -17.70 and a beta of 1.26. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. During the same period last year, the business earned ($0.89) earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

IRTC has been the subject of several recent research reports. StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 target price on the stock. Canaccord Genuity Group raised their target price on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company restated an “equal weight” rating and set a $86.00 target price on shares of iRhythm Technologies in a report on Tuesday. Finally, Citigroup cut their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $75.16 per share, with a total value of $500,866.24. Following the completion of the acquisition, the director now owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This trade represents a 54.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the sale, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

About iRhythm Technologies

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.