Harbor Capital Advisors Inc. Sells 30,714 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Harbor Capital Advisors Inc. trimmed its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 36.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,233 shares of the company's stock after selling 30,714 shares during the period. Harbor Capital Advisors Inc. owned about 0.17% of iRhythm Technologies worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IRTC. Allspring Global Investments Holdings LLC increased its stake in shares of iRhythm Technologies by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock valued at $50,991,000 after buying an additional 50,075 shares during the period. Values First Advisors Inc. raised its position in iRhythm Technologies by 9.1% in the fourth quarter. Values First Advisors Inc. now owns 5,588 shares of the company's stock valued at $504,000 after purchasing an additional 467 shares during the period. Van ECK Associates Corp lifted its stake in iRhythm Technologies by 41.3% during 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 during the last quarter. Banque Pictet & Cie SA lifted its holdings in iRhythm Technologies by 12.7% in the fourth quarter. Banque Pictet & Cie SA now owns 59,264 shares of the company's stock valued at $5,344,000 after acquiring an additional 6,696 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its holdings in iRhythm Technologies by 5.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after buying an additional 184 shares during the period.

iRhythm Technologies Stock Performance

NASDAQ IRTC traded down $2.18 on Thursday, hitting $145.20. 49,902 shares of the stock traded hands, compared to its average volume of 480,573. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -39.89 and a beta of 1.40. 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, Inc. has a 12 month low of $55.92 and a 12 month high of $150.00. The business's fifty day moving average is $124.95 and its two-hundred day moving average is $108.88.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on IRTC. Needham & Company LLC upped their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Truist Financial boosted their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Citigroup boosted their price target on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company upgraded iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $104.00 to $130.00 in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, iRhythm Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $136.45.

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.