iRhythm Technologies, Inc. (NASDAQ:IRTC) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 519,973 shares of the company’s stock after acquiring an additional 44,387 shares during the period. Allspring Global Investments Holdings LLC owned about 1.67% of iRhythm Technologies worth $38,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of iRhythm Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after buying an additional 35,694 shares during the last quarter. Mackenzie Financial Corp raised its stake in iRhythm Technologies by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock valued at $153,745,000 after acquiring an additional 80,091 shares in the last quarter. Blair William & Co. IL raised its stake in iRhythm Technologies by 3.5% during the 1st quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after acquiring an additional 27,842 shares in the last quarter. Champlain Investment Partners LLC boosted its position in iRhythm Technologies by 104.1% during the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after acquiring an additional 293,710 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of iRhythm Technologies by 12.3% in the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after purchasing an additional 58,668 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Citigroup reduced their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Truist Financial upped their target price on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $113.90.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the transaction, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Chad Patterson sold 3,012 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now owns 37,133 shares of the company’s stock, valued at approximately $2,772,349.78. 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 through the SEC website. Also, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $51,366.08. Following the completion of the sale, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at $773,477.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,072 shares of company stock valued at $372,748 over the last three months. 0.68% of the stock is owned by corporate insiders.

iRhythm Technologies Stock Up 21.7 %

IRTC stock opened at $75.59 on Wednesday. The company’s 50 day simple moving average is $68.13 and its 200-day simple moving average is $86.93. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The firm has a market capitalization of $2.35 billion, a P/E ratio of -17.87 and a beta of 1.22.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. The business had revenue of $148.05 million for the quarter, compared to the consensus estimate of $146.15 million. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. iRhythm Technologies’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.61) earnings per share. As a group, equities research analysts anticipate that iRhythm Technologies, Inc. will post -2.66 EPS for the current year.

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.