Wellington Management Group LLP Acquires 19,891 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Wellington Management Group LLP increased its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,840 shares of the company's stock after buying an additional 19,891 shares during the quarter. Wellington Management Group LLP owned 0.74% of iRhythm Technologies worth $21,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IRTC. Van ECK Associates Corp lifted its holdings 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 buying an additional 162 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake 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 worth $297,000 after buying an additional 184 shares during the period. Invesco Ltd. boosted its holdings in shares of iRhythm Technologies by 1.1% in the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after purchasing an additional 207 shares during the period. Summit Investment Advisors Inc. grew its position in shares of iRhythm Technologies by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company's stock worth $295,000 after buying an additional 210 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company's stock worth $119,000 after purchasing an additional 410 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IRTC shares. Needham & Company LLC boosted their price objective 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. Truist Financial lifted their price objective 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 upped their target price on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird boosted their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $104.00 to $130.00 in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, iRhythm Technologies has an average rating of "Moderate Buy" and an average price target of $133.73.

iRhythm Technologies Price Performance

Shares of IRTC stock traded down $1.15 on Wednesday, reaching $143.83. The company had a trading volume of 459,984 shares, compared to its average volume of 483,709. The business's 50-day moving average is $120.77 and its 200 day moving average is $106.39. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $146.90. The stock has a market capitalization of $4.59 billion, a PE ratio of -39.51 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $158.68 million during the quarter, compared to analysts' expectations of $153.39 million. During the same quarter last year, the business posted ($1.23) EPS. The company's quarterly revenue was up 20.3% on a year-over-year basis. Equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

iRhythm Technologies Company 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.