Virtue Capital Management LLC Purchases New Shares in iRhythm Technologies $IRTC

Virtue Capital Management LLC purchased a new position in iRhythm Technologies (NASDAQ:IRTC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,685 shares of the company's stock, valued at approximately $875,000.

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Other large investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of iRhythm Technologies by 169.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company's stock valued at $94,535,000 after purchasing an additional 568,261 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of iRhythm Technologies during the 1st quarter worth about $54,249,000. Millennium Management LLC lifted its stake in iRhythm Technologies by 563.8% in the 1st quarter. Millennium Management LLC now owns 399,746 shares of the company's stock valued at $41,845,000 after buying an additional 339,529 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in iRhythm Technologies in the 1st quarter worth about $21,796,000. Finally, Blair William & Co. IL boosted its holdings in iRhythm Technologies by 30.6% in the 1st quarter. Blair William & Co. IL now owns 789,999 shares of the company's stock worth $82,697,000 after buying an additional 185,262 shares during the last quarter.

Insider Transactions at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 8,000 shares of the firm's stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $207.44, for a total transaction of $1,659,520.00. Following the completion of the sale, the chief financial officer directly owned 26,470 shares in the company, valued at approximately $5,490,936.80. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Quentin S. Blackford sold 14,059 shares of iRhythm Technologies stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the transaction, the chief executive officer directly owned 164,979 shares in the company, valued at $30,181,258.26. This trade represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,059 shares of company stock valued at $5,106,473 in the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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IRTC has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on iRhythm Technologies from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on iRhythm Technologies from $190.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, October 31st. Loop Capital set a $220.00 price objective on iRhythm Technologies in a research note on Friday, October 31st. Evercore ISI lowered their target price on shares of iRhythm Technologies from $185.00 to $175.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $201.57.

Check Out Our Latest Stock Report on iRhythm Technologies

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $186.66 on Friday. The business's 50 day moving average price is $177.52 and its 200 day moving average price is $161.03. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -115.94 and a beta of 1.13. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. iRhythm Technologies has a one year low of $81.10 and a one year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The company had revenue of $192.88 million during the quarter, compared to analysts' expectations of $184.75 million. During the same period in the prior year, the business earned ($1.26) EPS. The firm's quarterly revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, research analysts predict that iRhythm Technologies will post -1.98 EPS for the current year.

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.

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