Northern Trust Corp Boosts Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Northern Trust Corp lifted its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 about 0.92% of iRhythm Technologies worth $25,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IRTC. R Squared Ltd purchased a new position in shares of iRhythm Technologies during the 4th quarter worth approximately $45,000. Van ECK Associates Corp boosted its position in shares of iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after purchasing an additional 162 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after purchasing an additional 648 shares in the last quarter. KBC Group NV grew its stake in iRhythm Technologies by 45.1% in the fourth 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. Finally, Xponance Inc. bought a new position in iRhythm Technologies in the fourth quarter worth $203,000.

iRhythm Technologies Stock Up 0.5%

NASDAQ IRTC traded up $0.68 during mid-day trading on Wednesday, reaching $140.46. The stock had a trading volume of 652,516 shares, compared to its average volume of 470,893. The stock has a market cap of $4.48 billion, a PE ratio of -38.59 and a beta of 1.34. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $143.00. The company has a fifty day moving average price of $108.28 and a 200 day moving average price of $99.93.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The business had revenue of $158.68 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.23) EPS. On average, research analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analyst Ratings Changes

IRTC has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Robert W. Baird boosted their price objective on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. 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. The Goldman Sachs Group lifted their target price on shares of 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 iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $104.00 to $130.00 in a research report on Friday, May 2nd. One equities research 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $128.55.

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.