iRhythm Technologies, Inc. (NASDAQ:IRTC) Holdings Increased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,840 shares of the company’s stock after buying an additional 19,891 shares during the quarter. Wellington Management Group LLP owned about 0.74% of iRhythm Technologies worth $21,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of iRhythm Technologies during the 4th quarter worth about $45,000. Van ECK Associates Corp raised its position in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after buying an additional 162 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of iRhythm Technologies during the 4th quarter worth about $60,000. KBC Group NV raised its position in shares of iRhythm Technologies by 45.1% during the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock worth $119,000 after buying an additional 410 shares in the last quarter. Finally, Xponance Inc. bought a new stake in shares of iRhythm Technologies during the 4th quarter worth about $203,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IRTC shares. Truist Financial boosted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group cut their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company upgraded shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $104.00 to $130.00 in a report on Friday, May 2nd. Needham & Company LLC boosted their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Robert W. Baird boosted their price target on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.73.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $141.37 on Friday. The company’s 50 day moving average price is $118.50 and its 200 day moving average price is $105.29. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $146.58. The company has a market capitalization of $4.51 billion, a PE ratio of -38.84 and a beta of 1.34. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The company had revenue of $158.68 million for the quarter, compared to analysts’ expectations of $153.39 million. During the same period in the previous year, the firm posted ($1.23) earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. Research analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

About iRhythm Technologies

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.