Irhythm Technologies Inc (IRTC) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 34.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 116,387 shares of the company’s stock after buying an additional 29,801 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.48% of Irhythm Technologies worth $8,087,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IRTC. BlackRock Inc. raised its stake in Irhythm Technologies by 5.0% in the 3rd quarter. BlackRock Inc. now owns 2,216,983 shares of the company’s stock valued at $209,858,000 after acquiring an additional 105,780 shares during the period. Vanguard Group Inc. raised its stake in Irhythm Technologies by 54.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,350,269 shares of the company’s stock valued at $127,816,000 after acquiring an additional 473,235 shares during the period. Vanguard Group Inc raised its stake in Irhythm Technologies by 54.0% in the 3rd quarter. Vanguard Group Inc now owns 1,350,269 shares of the company’s stock valued at $127,816,000 after acquiring an additional 473,235 shares during the period. Deutsche Bank AG raised its stake in Irhythm Technologies by 94.8% in the 3rd quarter. Deutsche Bank AG now owns 328,507 shares of the company’s stock valued at $31,093,000 after acquiring an additional 159,910 shares during the period. Finally, Morgan Stanley raised its stake in Irhythm Technologies by 28.9% in the 3rd quarter. Morgan Stanley now owns 293,511 shares of the company’s stock valued at $27,783,000 after acquiring an additional 65,801 shares during the period. 98.98% of the stock is currently owned by institutional investors.

IRTC stock opened at $89.89 on Friday. The company has a current ratio of 4.79, a quick ratio of 4.69 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.31 billion, a P/E ratio of -47.56 and a beta of 1.77. Irhythm Technologies Inc has a 1-year low of $55.18 and a 1-year high of $98.37.

Irhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Tuesday, February 12th. The company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.03). The company had revenue of $43.16 million during the quarter, compared to the consensus estimate of $40.21 million. Irhythm Technologies had a negative return on equity of 66.24% and a negative net margin of 32.78%. The firm’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.48) earnings per share. As a group, sell-side analysts predict that Irhythm Technologies Inc will post -1.65 earnings per share for the current year.

A number of equities research analysts recently issued reports on the company. Canaccord Genuity boosted their price objective on Irhythm Technologies from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, January 11th. BidaskClub upgraded Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Chardan Capital cut Irhythm Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $111.00 to $104.00 in a research note on Wednesday, February 20th. Zacks Investment Research cut Irhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. Finally, JPMorgan Chase & Co. upped their price target on Irhythm Technologies to $110.00 in a research report on Wednesday, February 13th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $98.25.

In related news, EVP Derrick Sung sold 9,068 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $84.04, for a total value of $762,074.72. Following the transaction, the executive vice president now directly owns 31,258 shares in the company, valued at $2,626,922.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David A. Vort sold 758 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $95.00, for a total transaction of $72,010.00. Following the completion of the transaction, the executive vice president now owns 19,560 shares in the company, valued at $1,858,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,808 shares of company stock worth $6,564,013. 5.05% of the stock is owned by company insiders.

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About Irhythm Technologies

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

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