Northern Trust Corp Purchases 4,675 Shares of iRhythm Technologies $IRTC

Northern Trust Corp increased its position in shares of iRhythm Technologies (NASDAQ:IRTC) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 292,009 shares of the company’s stock after buying an additional 4,675 shares during the period. Northern Trust Corp owned 0.91% of iRhythm Technologies worth $30,568,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in iRhythm Technologies by 1,793.7% during the first quarter. Principal Financial Group Inc. now owns 50,449 shares of the company’s stock worth $5,281,000 after buying an additional 47,785 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of iRhythm Technologies by 30,928.6% during the 1st quarter. GAMMA Investing LLC now owns 8,688 shares of the company’s stock worth $909,000 after buying an additional 8,660 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of iRhythm Technologies by 95.6% during the 1st quarter. SG Americas Securities LLC now owns 8,427 shares of the company’s stock worth $882,000 after buying an additional 4,119 shares in the last quarter. Stephens Inc. AR bought a new position in shares of iRhythm Technologies during the 1st quarter worth approximately $222,000. Finally, Xponance Inc. boosted its holdings in shares of iRhythm Technologies by 6.1% during the 1st quarter. Xponance Inc. now owns 2,390 shares of the company’s stock worth $250,000 after buying an additional 137 shares in the last quarter.

Insider Activity at iRhythm Technologies

In related news, Director Abhijit Y. Talwalkar sold 5,312 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $158.02, for a total transaction of $839,402.24. Following the transaction, the director directly owned 20,299 shares in the company, valued at approximately $3,207,647.98. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Quentin S. Blackford sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $160.54, for a total transaction of $4,816,200.00. Following the transaction, the chief executive officer owned 179,038 shares in the company, valued at approximately $28,742,760.52. This trade represents a 14.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,425 shares of company stock valued at $7,549,869 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IRTC has been the topic of a number of research analyst reports. Bank of America started coverage on iRhythm Technologies in a report on Wednesday, August 20th. They set a “buy” rating and a $200.00 price target on the stock. Citigroup lifted their price target on shares of iRhythm Technologies from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $180.00 to $193.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of iRhythm Technologies from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company lifted their price target on shares of iRhythm Technologies from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, iRhythm Technologies currently has an average rating of “Buy” and an average target price of $163.82.

iRhythm Technologies Trading Down 0.9%

NASDAQ:IRTC opened at $169.98 on Friday. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. The firm has a 50-day moving average of $150.26 and a 200-day moving average of $130.07. The company has a market cap of $5.46 billion, a PE ratio of -58.01 and a beta of 1.41. iRhythm Technologies has a one year low of $55.92 and a one year high of $172.59.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, July 31st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.21. The company had revenue of $186.69 million during the quarter, compared to the consensus estimate of $173.94 million. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.61) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

iRhythm Technologies 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.