Two Sigma Advisers LP Has $472,000 Position in Irhythm Technologies Inc (IRTC)

Two Sigma Advisers LP cut its holdings in Irhythm Technologies Inc (NASDAQ:IRTC) by 85.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,800 shares of the company’s stock after selling 41,300 shares during the quarter. Two Sigma Advisers LP’s holdings in Irhythm Technologies were worth $472,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC purchased a new stake in shares of Irhythm Technologies in the fourth quarter valued at approximately $55,000. Pearl River Capital LLC purchased a new stake in shares of Irhythm Technologies in the fourth quarter valued at approximately $66,000. Bank of Montreal Can boosted its stake in shares of Irhythm Technologies by 574.7% in the fourth quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock valued at $78,000 after buying an additional 954 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Irhythm Technologies by 38.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock valued at $89,000 after buying an additional 358 shares in the last quarter. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Irhythm Technologies in the third quarter valued at approximately $160,000.

In other news, EVP Derrick Sung sold 9,068 shares of the business’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $84.04, for a total value of $762,074.72. Following the completion of the transaction, the executive vice president now directly owns 31,258 shares of the company’s stock, valued at $2,626,922.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew C. Garrett sold 20,203 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $90.10, for a total value of $1,820,290.30. Following the completion of the transaction, the chief financial officer now directly owns 40,407 shares of the company’s stock, valued at $3,640,670.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,891 shares of company stock valued at $10,558,098. 5.05% of the stock is currently owned by insiders.

A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Friday, January 4th. BidaskClub downgraded Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, March 29th. Chardan Capital cut Irhythm Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $111.00 to $104.00 in a report on Wednesday, February 20th. JPMorgan Chase & Co. lifted their price objective on Irhythm Technologies to $110.00 in a report on Wednesday, February 13th. Finally, Northland Securities reaffirmed a “hold” rating and set a $75.00 price objective on shares of Irhythm Technologies in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $96.22.

Shares of IRTC stock opened at $68.92 on Friday. The firm has a market cap of $1.69 billion, a P/E ratio of -36.47 and a beta of 1.72. Irhythm Technologies Inc has a 1 year low of $55.18 and a 1 year high of $98.37. The company has a quick ratio of 3.45, a current ratio of 3.52 and a debt-to-equity ratio of 0.64.

Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Tuesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.03). The firm had revenue of $43.16 million for the quarter, compared to analyst estimates of $40.21 million. Irhythm Technologies had a negative return on equity of 69.79% and a negative net margin of 32.78%. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.48) earnings per share. As a group, research analysts predict that Irhythm Technologies Inc will post -1.65 earnings per share for the current year.

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About Irhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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