Fiera Capital Corp Decreases Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Fiera Capital Corp lessened its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 2.9% in the third quarter, HoldingsChannel.com reports. The firm owned 381,644 shares of the company’s stock after selling 11,553 shares during the quarter. Fiera Capital Corp’s holdings in iRhythm Technologies were worth $28,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after buying an additional 426 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the last quarter. SG Americas Securities LLC purchased a new position in iRhythm Technologies during the 1st quarter valued at about $126,000. nVerses Capital LLC raised its position in iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after buying an additional 1,594 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IRTC shares. Robert W. Baird decreased their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Citigroup cut their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 price target for the company. Morgan Stanley cut their price objective on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Oppenheimer decreased their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $108.50.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $86.48 on Friday. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $124.11. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The company has a market capitalization of $2.71 billion, a P/E ratio of -17.79 and a beta of 1.23. The stock’s 50 day moving average is $70.91 and its 200 day moving average is $84.33.

iRhythm Technologies (NASDAQ:IRTC) last released 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 return on equity of 120.86% and a negative net margin of 26.90%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.89) earnings per share. On average, equities research analysts predict that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 16,145 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares of the company’s stock, valued at $12,380,103.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the transaction, the director now directly owns 18,941 shares in the company, valued at approximately $1,423,605.56. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of iRhythm Technologies stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

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.