Neuberger Berman Group LLC bought a new position in IRHYTHM TECH (NASDAQ:IRTC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 46,000 shares of the company’s stock, valued at approximately $1,955,000. Neuberger Berman Group LLC owned about 0.21% of IRHYTHM TECH as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the business. Victory Capital Management Inc. purchased a new position in IRHYTHM TECH in the 2nd quarter worth about $8,415,000. Columbus Circle Investors raised its position in IRHYTHM TECH by 688.6% in the 2nd quarter. Columbus Circle Investors now owns 149,823 shares of the company’s stock worth $6,366,000 after buying an additional 130,825 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in IRHYTHM TECH in the 2nd quarter worth about $21,300,000. Legal & General Group Plc raised its position in IRHYTHM TECH by 131.0% in the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock worth $143,000 after buying an additional 1,913 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in IRHYTHM TECH by 2,702.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock worth $25,794,000 after buying an additional 585,390 shares during the last quarter. 93.25% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on IRTC. Zacks Investment Research lowered IRHYTHM TECH from a “hold” rating to a “sell” rating in a research report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 price target on shares of IRHYTHM TECH in a research report on Tuesday, June 6th. Finally, Morgan Stanley upped their price target on shares of IRHYTHM TECH from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. IRHYTHM TECH currently has an average rating of “Hold” and a consensus target price of $37.75.
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In other news, CFO Matthew C. Garrett sold 25,086 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $42.06, for a total value of $1,055,117.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David A. Vort sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $48.76, for a total value of $243,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,100 shares of company stock valued at $11,137,023. Company insiders own 23.30% of the company’s stock.
Shares of IRHYTHM TECH (NASDAQ:IRTC) opened at 48.69 on Friday. The stock’s market cap is $1.11 billion. IRHYTHM TECH has a 52-week low of $22.16 and a 52-week high of $50.51. The stock’s 50 day moving average is $49.09 and its 200 day moving average is $44.37.
IRHYTHM TECH (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02. IRHYTHM TECH had a negative return on equity of 57.23% and a negative net margin of 27.34%. The firm had revenue of $23.85 million during the quarter, compared to analysts’ expectations of $22.10 million. IRHYTHM TECH’s revenue was up 51.6% on a year-over-year basis. On average, equities analysts predict that IRHYTHM TECH will post ($1.13) EPS for the current fiscal year.
IRHYTHM TECH Profile
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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