Northern Trust Corp increased its holdings in shares of Irhythm Technologies Inc (NASDAQ:IRTC) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,626 shares of the company’s stock after purchasing an additional 2,195 shares during the period. Northern Trust Corp’s holdings in Irhythm Technologies were worth $12,000,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in IRTC. Schwab Charles Investment Management Inc. lifted its holdings in shares of Irhythm Technologies by 7.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 82,208 shares of the company’s stock valued at $4,608,000 after purchasing an additional 5,622 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of Irhythm Technologies during the 4th quarter valued at about $735,000. Bank of New York Mellon Corp lifted its holdings in shares of Irhythm Technologies by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 756,700 shares of the company’s stock valued at $42,413,000 after purchasing an additional 19,429 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Irhythm Technologies by 8.1% during the 4th quarter. BlackRock Inc. now owns 1,604,250 shares of the company’s stock valued at $89,917,000 after purchasing an additional 120,352 shares in the last quarter. Finally, OppenheimerFunds Inc. bought a new position in shares of Irhythm Technologies during the 4th quarter valued at about $15,385,000.
Several research firms have recently weighed in on IRTC. Zacks Investment Research cut Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Wednesday. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price objective (up previously from $68.00) on shares of Irhythm Technologies in a report on Monday, March 12th. Northland Securities reiterated a “hold” rating and set a $60.00 price objective on shares of Irhythm Technologies in a report on Monday, April 16th. ValuEngine upgraded Irhythm Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Finally, BidaskClub cut Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Irhythm Technologies presently has an average rating of “Buy” and a consensus target price of $74.00.
In other Irhythm Technologies news, Director Raymond W. Scott sold 6,877 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $80.41, for a total transaction of $552,979.57. Following the transaction, the director now owns 8,905 shares of the company’s stock, valued at approximately $716,051.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin M. King sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $65.91, for a total value of $5,272,800.00. Following the transaction, the insider now directly owns 218,146 shares in the company, valued at approximately $14,378,002.86. The disclosure for this sale can be found here. Insiders sold a total of 96,877 shares of company stock worth $6,525,780 in the last 90 days. Company insiders own 5.05% of the company’s stock.
Irhythm Technologies opened at $85.02 on Wednesday, according to Marketbeat.com. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -65.40 and a beta of 1.43. The company has a current ratio of 6.59, a quick ratio of 6.48 and a debt-to-equity ratio of 0.45. Irhythm Technologies Inc has a 52 week low of $40.12 and a 52 week high of $86.39.
Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, May 2nd. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.11). The firm had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.07 million. Irhythm Technologies had a negative net margin of 32.73% and a negative return on equity of 43.37%. The company’s revenue was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) EPS. equities analysts expect that Irhythm Technologies Inc will post -1.57 EPS for the current year.
Irhythm Technologies Company Profile
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company 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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