iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 287,334 shares of the company’s stock after purchasing an additional 18,816 shares during the period. Northern Trust Corp owned 0.92% of iRhythm Technologies worth $25,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of iRhythm Technologies during the fourth quarter worth $45,000. Van ECK Associates Corp increased its stake in iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after buying an additional 162 shares during the period. Nisa Investment Advisors LLC increased its stake in iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after buying an additional 648 shares during the period. KBC Group NV boosted its position in shares of iRhythm Technologies by 45.1% during the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. Finally, Xponance Inc. bought a new position in shares of iRhythm Technologies during the 4th quarter valued at about $203,000.

iRhythm Technologies Stock Up 0.5%

IRTC opened at $137.70 on Monday. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $140.73. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm’s fifty day moving average price is $106.91 and its two-hundred day moving average price is $99.21. The company has a market capitalization of $4.40 billion, a P/E ratio of -37.83 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. During the same quarter in the prior year, the firm posted ($1.23) EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRTC. Truist Financial raised their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Canaccord Genuity Group decreased their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Wells Fargo & Company raised shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. The Goldman Sachs Group raised their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Finally, Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.55.

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.