Citadel Advisors LLC lifted its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 84.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 594,494 shares of the company’s stock after buying an additional 271,543 shares during the quarter. Citadel Advisors LLC’s holdings in Irhythm Technologies were worth $33,321,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of IRTC. JPMorgan Chase & Co. lifted its position 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 worth $16,220,000 after purchasing an additional 310,171 shares during the period. Wells Fargo & Company MN lifted its position 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 worth $31,604,000 after purchasing an additional 244,411 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Irhythm Technologies by 69.9% in the 2nd quarter. Lord Abbett & CO. LLC now owns 328,640 shares of the company’s stock worth $13,964,000 after purchasing an additional 135,256 shares during the period. Bank of New York Mellon Corp lifted its position 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 worth $38,250,000 after purchasing an additional 130,217 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Irhythm Technologies by 8.1% in the 4th quarter. BlackRock Inc. now owns 1,604,250 shares of the company’s stock worth $89,917,000 after purchasing an additional 120,352 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on IRTC shares. Canaccord Genuity reissued a “buy” rating and set a $59.00 price target on shares of Irhythm Technologies in a research report on Tuesday, November 14th. BidaskClub raised shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Dougherty & Co started coverage on shares of Irhythm Technologies in a research report on Friday, December 1st. They set a “neutral” rating for the company. Finally, Royal Bank of Canada started coverage on shares of Irhythm Technologies in a research report on Monday, December 4th. They set an “outperform” rating and a $79.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.60.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.13). Irhythm Technologies had a negative net margin of 29.87% and a negative return on equity of 33.67%. The business had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $26.79 million. During the same period last year, the business earned ($0.37) earnings per share. The company’s revenue was up 50.8% on a year-over-year basis. equities analysts anticipate that Irhythm Technologies Inc will post -1.53 earnings per share for the current year.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 42,910 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 36,085 shares in the company, valued at approximately $2,135,149.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew C. Garrett sold 1,193 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $55.00, for a total transaction of $65,615.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,533 shares of company stock valued at $13,500,006. 23.30% of the stock is currently owned by corporate insiders.
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Irhythm Technologies Company 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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