iRhythm Technologies (NASDAQ:IRTC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in shares of iRhythm Technologies (NASDAQ:IRTC) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,102 shares of the company’s stock after selling 878 shares during the quarter. PNC Financial Services Group Inc.’s holdings in iRhythm Technologies were worth $429,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Champlain Investment Partners LLC grew its holdings in iRhythm Technologies by 8.9% during the 4th quarter. Champlain Investment Partners LLC now owns 726,262 shares of the company’s stock valued at $65,487,000 after buying an additional 59,161 shares during the last quarter. Bessemer Group Inc. grew its holdings in iRhythm Technologies by 1.1% during the 1st quarter. Bessemer Group Inc. now owns 574,053 shares of the company’s stock valued at $60,092,000 after buying an additional 6,046 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in iRhythm Technologies by 3.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 520,582 shares of the company’s stock valued at $54,495,000 after buying an additional 17,657 shares during the last quarter. First Light Asset Management LLC acquired a new stake in shares of iRhythm Technologies during the fourth quarter worth $38,818,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of iRhythm Technologies by 364.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 355,147 shares of the company’s stock worth $32,024,000 after purchasing an additional 278,743 shares during the last quarter.

iRhythm Technologies Price Performance

Shares of iRhythm Technologies stock opened at $162.10 on Friday. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $168.32. The stock has a market capitalization of $5.21 billion, a P/E ratio of -55.32 and a beta of 1.41. The company has a current ratio of 5.02, a quick ratio of 4.88 and a debt-to-equity ratio of 6.25. The business’s fifty day moving average price is $145.96 and its 200 day moving average price is $125.69.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.21. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%. The firm had revenue of $186.69 million for the quarter, compared to analysts’ expectations of $173.94 million. During the same quarter last year, the firm earned ($0.61) earnings per share. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, research analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar sold 5,312 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $158.02, for a total value of $839,402.24. Following the transaction, the director directly owned 20,299 shares of the company’s stock, valued at $3,207,647.98. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel G. Wilson sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $150.00, for a total value of $450,000.00. Following the completion of the transaction, the chief financial officer directly owned 40,307 shares in the company, valued at $6,046,050. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,772 shares of company stock valued at $7,440,739 over the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Morgan Stanley decreased their price objective on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Needham & Company LLC raised their price objective on iRhythm Technologies from $151.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $139.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, William Blair upgraded iRhythm Technologies to a “strong-buy” rating in a report on Friday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $157.30.

iRhythm Technologies Company 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.