Irhythm Technologies Inc (IRTC) Stake Boosted by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lifted its holdings in Irhythm Technologies Inc (NASDAQ:IRTC) by 2,672.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,545 shares of the company’s stock after purchasing an additional 5,345 shares during the period. BNP Paribas Arbitrage SA’s holdings in Irhythm Technologies were worth $416,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Bailard Inc. acquired a new position in shares of Irhythm Technologies in the 1st quarter worth approximately $539,000. Virtu Financial LLC bought a new position in Irhythm Technologies in the 1st quarter worth approximately $659,000. Geode Capital Management LLC raised its position in Irhythm Technologies by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 254,410 shares of the company’s stock worth $17,675,000 after purchasing an additional 16,951 shares during the last quarter. Norges Bank bought a new position in Irhythm Technologies in the 4th quarter worth approximately $46,416,000. Finally, Amalgamated Bank bought a new position in Irhythm Technologies in the 4th quarter worth approximately $246,000.

Several research analysts recently weighed in on IRTC shares. JPMorgan Chase & Co. boosted their price objective on shares of Irhythm Technologies to $110.00 in a research report on Wednesday, February 13th. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Canaccord Genuity boosted their price objective on shares of Irhythm Technologies from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. BTIG Research upgraded shares of Irhythm Technologies from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Irhythm Technologies currently has an average rating of “Buy” and an average target price of $97.33.

In other Irhythm Technologies news, EVP David A. Vort sold 758 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $95.00, for a total transaction of $72,010.00. Following the completion of the sale, the executive vice president now owns 19,560 shares in the company, valued at approximately $1,858,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Vort sold 4,286 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $92.66, for a total transaction of $397,140.76. Following the sale, the executive vice president now owns 23,088 shares of the company’s stock, valued at approximately $2,139,334.08. The disclosure for this sale can be found here. Insiders have sold a total of 81,576 shares of company stock valued at $7,349,536 in the last quarter. Corporate insiders own 3.85% of the company’s stock.

Shares of Irhythm Technologies stock opened at $69.48 on Friday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -36.76 and a beta of 1.66. Irhythm Technologies Inc has a 52 week low of $58.99 and a 52 week high of $98.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.27 and a quick ratio of 3.45.

Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.17. The company had revenue of $47.21 million during the quarter, compared to analysts’ expectations of $43.83 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The business’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. As a group, sell-side analysts forecast that Irhythm Technologies Inc will post -1.53 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Irhythm Technologies Inc (IRTC) Stake Boosted by BNP Paribas Arbitrage SA” was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://www.baseballdailydigest.com/news/2019/05/18/irhythm-technologies-inc-irtc-stake-boosted-by-bnp-paribas-arbitrage-sa.html.

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.

Featured Article: Price-Sales Ratio

Want to see what other hedge funds are holding IRTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Irhythm Technologies Inc (NASDAQ:IRTC).

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

Receive News & Ratings for Irhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Irhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.