CI Investments Inc. Has $346,000 Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

CI Investments Inc. lowered its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 35.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,454 shares of the company’s stock after selling 785 shares during the period. CI Investments Inc.’s holdings in iRhythm Technologies were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IRTC. ClariVest Asset Management LLC purchased a new stake in iRhythm Technologies in the 3rd quarter worth approximately $1,907,000. LPL Financial LLC purchased a new position in iRhythm Technologies during the 3rd quarter valued at about $479,000. Quantitative Systematic Strategies LLC purchased a new position in iRhythm Technologies in the third quarter worth about $254,000. Swiss National Bank raised its holdings in iRhythm Technologies by 3.2% in the third quarter. Swiss National Bank now owns 61,300 shares of the company’s stock worth $14,596,000 after buying an additional 1,900 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of iRhythm Technologies by 2.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 12,493 shares of the company’s stock worth $2,975,000 after acquiring an additional 240 shares during the period.

NASDAQ IRTC opened at $224.62 on Friday. The company has a market cap of $6.49 billion, a P/E ratio of -117.60 and a beta of 1.78. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.10 and a quick ratio of 2.99. The stock has a 50-day moving average of $235.14 and a two-hundred day moving average of $174.81. iRhythm Technologies, Inc. has a 1-year low of $56.54 and a 1-year high of $274.21.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.39. The company had revenue of $71.94 million during the quarter, compared to the consensus estimate of $62.34 million. iRhythm Technologies had a negative return on equity of 50.23% and a negative net margin of 28.50%. iRhythm Technologies’s revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.72) EPS. On average, analysts anticipate that iRhythm Technologies, Inc. will post -2.1 EPS for the current fiscal year.

Several brokerages recently issued reports on IRTC. Citigroup boosted their target price on shares of iRhythm Technologies from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. TheStreet raised shares of iRhythm Technologies from a “d” rating to a “c-” rating in a report on Friday, November 6th. BidaskClub downgraded shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Colliers Securities raised shares of iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Friday, August 7th. Finally, Truist increased their target price on shares of iRhythm Technologies from $200.00 to $265.00 in a research note on Friday, November 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $217.73.

In other news, CEO Kevin M. King sold 31,669 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $255.22, for a total transaction of $8,082,562.18. Following the completion of the transaction, the chief executive officer now directly owns 260,019 shares of the company’s stock, valued at $66,362,049.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David A. Vort sold 5,264 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $217.33, for a total value of $1,144,025.12. Following the transaction, the executive vice president now directly owns 21,267 shares of the company’s stock, valued at $4,621,957.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,961 shares of company stock valued at $16,636,228. 3.10% of the stock is currently owned by corporate insiders.

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. 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.

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

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