iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by BlackRock Inc.

BlackRock Inc. increased its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,254,791 shares of the company’s stock after acquiring an additional 76,573 shares during the period. BlackRock Inc. owned about 7.49% of iRhythm Technologies worth $282,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRTC. Capital Research Global Investors grew its holdings in iRhythm Technologies by 60.9% during the first quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock worth $222,237,000 after acquiring an additional 534,300 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in iRhythm Technologies by 33.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 649,614 shares of the company’s stock worth $81,382,000 after acquiring an additional 163,611 shares during the period. Blair William & Co. IL grew its holdings in iRhythm Technologies by 21.3% during the third quarter. Blair William & Co. IL now owns 823,081 shares of the company’s stock worth $103,116,000 after acquiring an additional 144,685 shares during the period. Artisan Partners Limited Partnership boosted its position in iRhythm Technologies by 46.4% during the third quarter. Artisan Partners Limited Partnership now owns 422,296 shares of the company’s stock worth $52,905,000 after purchasing an additional 133,826 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in iRhythm Technologies by 621.4% during the second quarter. Deutsche Bank AG now owns 139,741 shares of the company’s stock worth $15,096,000 after purchasing an additional 120,371 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $107.27 on Friday. iRhythm Technologies, Inc. has a 1-year low of $85.74 and a 1-year high of $169.54. The company has a market cap of $3.24 billion, a PE ratio of -27.58 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.24 and a quick ratio of 3.07. The stock’s 50 day simple moving average is $105.45 and its 200-day simple moving average is $114.59.

iRhythm Technologies (NASDAQ:IRTC – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). iRhythm Technologies had a negative return on equity of 35.85% and a negative net margin of 28.27%. The company had revenue of $112.62 million for the quarter, compared to analysts’ expectations of $110.62 million. As a group, equities research analysts anticipate that iRhythm Technologies, Inc. will post -2.86 EPS for the current fiscal year.

Analyst Ratings Changes

IRTC has been the topic of a number of recent analyst reports. Citigroup lowered their price target on iRhythm Technologies from $144.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, December 12th. Canaccord Genuity Group increased their price target on iRhythm Technologies from $135.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. Truist Financial lowered their price target on iRhythm Technologies from $167.00 to $153.00 and set a “buy” rating on the stock in a research report on Tuesday, December 20th. Needham & Company LLC lowered their price target on iRhythm Technologies from $140.00 to $133.00 and set a “buy” rating on the stock in a research report on Friday, February 24th. Finally, StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Monday, March 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.36.

Insider Buying and Selling

In related news, COO Douglas Devine sold 3,518 shares of iRhythm Technologies stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $117.84, for a total transaction of $414,561.12. Following the transaction, the chief operating officer now owns 31,039 shares in the company, valued at $3,657,635.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other iRhythm Technologies news, CTO Mark J. Day sold 1,913 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $117.84, for a total transaction of $225,427.92. Following the completion of the sale, the chief technology officer now owns 56,931 shares of the company’s stock, valued at $6,708,749.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Douglas Devine sold 3,518 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $117.84, for a total value of $414,561.12. Following the sale, the chief operating officer now directly owns 31,039 shares of the company’s stock, valued at approximately $3,657,635.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,317 shares of company stock worth $1,331,058. 1.64% of the stock is owned by corporate insiders.

About iRhythm Technologies

(Get Rating)

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, which continuously records and stores ECG data from every patient heartbeat for up to 14 consecutive days, and Zio AT, which provides ECG data but also provides physicians with actionable notifications during the wear period.