iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 287,334 shares of the company's stock after buying an additional 18,816 shares during the quarter. Northern Trust Corp owned 0.92% of iRhythm Technologies worth $25,909,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC raised its holdings in iRhythm Technologies by 34.3% in the third quarter. Barclays PLC now owns 209,247 shares of the company's stock valued at $15,534,000 after acquiring an additional 53,498 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of iRhythm Technologies by 28.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,506 shares of the company's stock valued at $406,000 after purchasing an additional 994 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock worth $94,000 after purchasing an additional 648 shares during the last quarter. KBC Group NV lifted its position in shares of iRhythm Technologies by 45.1% during 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 last quarter. Finally, R Squared Ltd acquired a new position in shares of iRhythm Technologies during the fourth quarter worth $45,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRTC. StockNews.com cut iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Canaccord Genuity Group cut their target price on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird boosted their target price on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. The Goldman Sachs Group upped their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Finally, Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.55.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock traded up $0.30 during trading on Friday, reaching $141.34. The company's stock had a trading volume of 171,729 shares, compared to its average volume of 471,039. The company has a 50-day moving average price of $109.92 and a two-hundred day moving average price of $100.65. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $144.00. The firm has a market cap of $4.51 billion, a PE ratio of -38.83 and a beta of 1.34. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00.

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

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.