BNP Paribas Arbitrage SA lessened its holdings in Irhythm Technologies Inc (NASDAQ:IRTC) by 38.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,433 shares of the company’s stock after selling 2,112 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Irhythm Technologies were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Quantamental Technologies LLC increased its position in shares of Irhythm Technologies by 78.5% in the first quarter. Quantamental Technologies LLC now owns 1,423 shares of the company’s stock valued at $107,000 after acquiring an additional 626 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Irhythm Technologies by 93.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the company’s stock valued at $144,000 after buying an additional 882 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Irhythm Technologies by 2,617.6% during the first quarter. Rehmann Capital Advisory Group now owns 2,935 shares of the company’s stock valued at $220,000 after buying an additional 2,827 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Irhythm Technologies by 9.2% during the first quarter. CIBC Private Wealth Group LLC now owns 3,576 shares of the company’s stock valued at $268,000 after buying an additional 301 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of Irhythm Technologies during the first quarter valued at about $286,000.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 27,569 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $76.83, for a total transaction of $2,118,126.27. Following the completion of the transaction, the chief financial officer now owns 29,101 shares in the company, valued at $2,235,829.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Merz Cathleen Noel Bairey sold 1,209 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $76.40, for a total transaction of $92,367.60. Following the transaction, the director now owns 3,844 shares of the company’s stock, valued at approximately $293,681.60. The disclosure for this sale can be found here. 3.85% of the stock is currently owned by corporate insiders.
Shares of NASDAQ IRTC opened at $71.57 on Tuesday. Irhythm Technologies Inc has a 1 year low of $58.99 and a 1 year high of $98.37. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.66 and a quick ratio of 2.59. The company’s 50-day moving average is $77.95 and its 200 day moving average is $78.56. The stock has a market capitalization of $1.83 billion, a P/E ratio of -37.87 and a beta of 1.72.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). Irhythm Technologies had a negative net margin of 24.45% and a negative return on equity of 76.47%. The company had revenue of $53.30 million for the quarter, compared to analysts’ expectations of $49.89 million. During the same period in the previous year, the firm earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. Research analysts anticipate that Irhythm Technologies Inc will post -1.54 earnings per share for the current year.
Several equities analysts recently issued reports on the stock. BidaskClub cut shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Irhythm Technologies from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, BTIG Research set a $90.00 price target on shares of Irhythm Technologies and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Irhythm Technologies currently has a consensus rating of “Buy” and an average price target of $99.00.
Irhythm Technologies Profile
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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