SG Americas Securities LLC Sells 1,902 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

SG Americas Securities LLC reduced its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) by 31.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,168 shares of the company’s stock after selling 1,902 shares during the period. SG Americas Securities LLC’s holdings in iRhythm Technologies were worth $522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRTC. Van ECK Associates Corp purchased a new stake in shares of iRhythm Technologies during the 3rd quarter valued at approximately $49,000. Focused Wealth Management Inc purchased a new stake in shares of iRhythm Technologies during the 3rd quarter valued at approximately $50,000. First Horizon Advisors Inc. purchased a new stake in shares of iRhythm Technologies during the 2nd quarter valued at approximately $53,000. Point72 Hong Kong Ltd purchased a new stake in shares of iRhythm Technologies during the 2nd quarter valued at approximately $85,000. Finally, Captrust Financial Advisors lifted its stake in shares of iRhythm Technologies by 92.0% during the 2nd quarter. Captrust Financial Advisors now owns 935 shares of the company’s stock valued at $101,000 after buying an additional 448 shares in the last quarter. 98.96% of the stock is owned by institutional investors.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $99.40 on Wednesday. The firm’s fifty day moving average price is $99.21 and its 200-day moving average price is $123.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.25 and a current ratio of 3.42. The stock has a market cap of $2.99 billion, a P/E ratio of -23.01 and a beta of 1.44. iRhythm Technologies, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $169.54.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.19. The firm had revenue of $103.88 million for the quarter, compared to analysts’ expectations of $106.43 million. iRhythm Technologies had a negative net margin of 33.79% and a negative return on equity of 39.31%. On average, equities research analysts expect that iRhythm Technologies, Inc. will post -3.82 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 12,699 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $122.40, for a total transaction of $1,554,357.60. Following the transaction, the chief executive officer now owns 89,280 shares of the company’s stock, valued at approximately $10,927,872. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.64% of the stock is owned by insiders.

Analyst Ratings Changes

IRTC has been the topic of a number of recent research reports. Needham & Company LLC dropped their price target on shares of iRhythm Technologies from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, November 2nd. Truist Financial lowered their target price on shares of iRhythm Technologies from $167.00 to $153.00 and set a “buy” rating on the stock in a research note on Tuesday, December 20th. Citigroup lowered their target price on shares of iRhythm Technologies from $144.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. Wolfe Research upgraded shares of iRhythm Technologies from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 7th. Finally, Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $198.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus target price of $152.00.

iRhythm Technologies Company Profile

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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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.

See Also

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

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