Irhythm Technologies Inc (IRTC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,546 shares of the company’s stock after selling 2,393 shares during the quarter. Rhumbline Advisers owned about 0.06% of Irhythm Technologies worth $759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of Irhythm Technologies by 21.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 737,271 shares of the company’s stock valued at $38,250,000 after purchasing an additional 130,217 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Irhythm Technologies by 67.0% in the 3rd quarter. Wells Fargo & Company MN now owns 609,187 shares of the company’s stock valued at $31,604,000 after purchasing an additional 244,411 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Irhythm Technologies by 31.8% in the 3rd quarter. Perceptive Advisors LLC now owns 372,671 shares of the company’s stock valued at $19,335,000 after purchasing an additional 89,814 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Irhythm Technologies by 9,692.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock valued at $16,220,000 after purchasing an additional 310,171 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Irhythm Technologies by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 202,525 shares of the company’s stock valued at $11,351,000 after acquiring an additional 7,885 shares in the last quarter. Institutional investors own 98.59% of the company’s stock.

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In related news, CFO Matthew C. Garrett sold 42,910 shares of Irhythm Technologies stock in a transaction on Friday, January 5th. The shares were sold at an average price of $59.17, for a total transaction of $2,538,984.70. Following the sale, the chief financial officer now owns 36,085 shares of the company’s stock, valued at approximately $2,135,149.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijay K. Lathi sold 114,018 shares of Irhythm Technologies stock in a transaction on Friday, March 9th. The stock was sold at an average price of $66.44, for a total transaction of $7,575,355.92. The disclosure for this sale can be found here. Insiders have sold a total of 395,362 shares of company stock worth $25,152,594 in the last ninety days. 23.30% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on IRTC shares. Royal Bank of Canada started coverage on shares of Irhythm Technologies in a report on Monday, December 4th. They set an “outperform” rating and a $79.00 target price on the stock. BidaskClub lowered shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Zacks Investment Research lowered shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase lifted their target price on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $69.29.

NASDAQ:IRTC opened at $62.95 on Monday. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1,476.27, a P/E ratio of -48.42 and a beta of 1.01. Irhythm Technologies Inc has a twelve month low of $32.10 and a twelve month high of $68.07.

Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). The business had revenue of $28.20 million for the quarter, compared to analyst estimates of $26.79 million. Irhythm Technologies had a negative net margin of 29.87% and a negative return on equity of 34.44%. The business’s revenue was up 50.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.37) EPS. sell-side analysts forecast that Irhythm Technologies Inc will post -1.54 EPS for the current year.

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About Irhythm Technologies

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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