Nationwide Fund Advisors increased its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 363.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,316 shares of the company’s stock after acquiring an additional 28,473 shares during the period. Nationwide Fund Advisors owned approximately 0.16% of Irhythm Technologies worth $1,884,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in IRTC. Vanguard Group Inc. raised its stake in shares of Irhythm Technologies by 290.4% in the first quarter. Vanguard Group Inc. now owns 305,244 shares of the company’s stock valued at $11,477,000 after acquiring an additional 227,050 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Irhythm Technologies by 39.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 28,981 shares of the company’s stock valued at $1,090,000 after buying an additional 8,145 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Irhythm Technologies in the second quarter valued at $876,000. Rhumbline Advisers increased its holdings in Irhythm Technologies by 159.6% in the second quarter. Rhumbline Advisers now owns 15,749 shares of the company’s stock valued at $669,000 after buying an additional 9,683 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Irhythm Technologies by 2,702.1% in the second quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock valued at $25,794,000 after buying an additional 585,390 shares during the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.
IRTC has been the topic of several recent analyst reports. Zacks Investment Research raised Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Canaccord Genuity increased their target price on Irhythm Technologies from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 22nd. ValuEngine raised Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Morgan Stanley increased their target price on Irhythm Technologies from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Finally, Dougherty & Co initiated coverage on Irhythm Technologies in a report on Friday, December 1st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $65.25.
Irhythm Technologies Inc (IRTC) opened at $51.16 on Friday. The stock has a market capitalization of $1,172.52, a PE ratio of -42.99 and a beta of 2.64. Irhythm Technologies Inc has a twelve month low of $26.95 and a twelve month high of $57.90. The company has a current ratio of 7.65, a quick ratio of 7.57 and a debt-to-equity ratio of 0.38.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.05. The company had revenue of $25.04 million for the quarter, compared to analyst estimates of $24.30 million. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. The business’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter last year, the company posted ($2.80) earnings per share. sell-side analysts forecast that Irhythm Technologies Inc will post -1.17 EPS for the current year.
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Irhythm Technologies Profile
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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