iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,840 shares of the company’s stock after buying an additional 19,891 shares during the period. Wellington Management Group LLP’s holdings in iRhythm Technologies were worth $21,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in iRhythm Technologies during the 4th quarter valued at $45,000. Van ECK Associates Corp grew its stake in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Quarry LP acquired a new position in shares of iRhythm Technologies during the third quarter valued at $59,000. Nisa Investment Advisors LLC raised its stake in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after purchasing an additional 648 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in iRhythm Technologies in the third quarter worth about $119,000.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC opened at $100.17 on Tuesday. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -27.52 and a beta of 1.45. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The stock’s fifty day simple moving average is $107.40 and its 200 day simple moving average is $91.47.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $164.33 million for the quarter, compared to analysts’ expectations of $158.30 million. As a group, sell-side analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on IRTC. Wells Fargo & Company raised their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Truist Financial raised their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.73.

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.