SteelPeak Wealth LLC Invests $592,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

SteelPeak Wealth LLC acquired a new position in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 7,971 shares of the company’s stock, valued at approximately $592,000.

Several other large investors have also recently made changes to their positions in IRTC. Westfield Capital Management Co. LP acquired a new position in shares of iRhythm Technologies in the 1st quarter worth approximately $58,311,000. Champlain Investment Partners LLC lifted its holdings in iRhythm Technologies by 104.1% during the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after buying an additional 293,710 shares in the last quarter. First Light Asset Management LLC lifted its holdings in iRhythm Technologies by 176.8% during the 1st quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock worth $48,823,000 after buying an additional 268,829 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in iRhythm Technologies by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock worth $153,745,000 after buying an additional 80,091 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in iRhythm Technologies by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 511,905 shares of the company’s stock worth $59,381,000 after buying an additional 64,755 shares in the last quarter.

Insiders Place Their Bets

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the transaction, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by insiders.

iRhythm Technologies Trading Down 4.4 %

NASDAQ IRTC opened at $72.44 on Friday. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The firm’s fifty day moving average price is $69.14 and its 200 day moving average price is $85.45. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -17.13 and a beta of 1.22. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last posted 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 company 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 24.50% and a negative return on equity of 84.14%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the business earned ($0.89) earnings per share. On average, sell-side analysts expect that iRhythm Technologies, Inc. will post -2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They issued a “neutral” rating and a $78.00 price objective on the stock. Truist Financial increased their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Oppenheimer dropped their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $111.60.

iRhythm Technologies 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.