Allspring Global Investments Holdings LLC Has $39.16 Million Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Allspring Global Investments Holdings LLC reduced its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,858 shares of the company's stock after selling 75,173 shares during the period. Allspring Global Investments Holdings LLC owned 1.19% of iRhythm Technologies worth $39,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IRTC. Vanguard Group Inc. increased its stake in shares of iRhythm Technologies by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,957,749 shares of the company's stock valued at $278,797,000 after acquiring an additional 26,469 shares during the last quarter. BlackRock Inc. raised its stake in iRhythm Technologies by 4.6% during the second quarter. BlackRock Inc. now owns 2,373,248 shares of the company's stock worth $247,577,000 after purchasing an additional 104,541 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of iRhythm Technologies by 22.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,962,625 shares of the company's stock valued at $184,997,000 after purchasing an additional 359,908 shares during the last quarter. Capital Research Global Investors grew its stake in shares of iRhythm Technologies by 60.9% during the 1st quarter. Capital Research Global Investors now owns 1,411,300 shares of the company's stock valued at $222,237,000 after buying an additional 534,300 shares during the period. Finally, Mackenzie Financial Corp grew its position in iRhythm Technologies by 3.4% during the third quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company's stock valued at $111,425,000 after acquiring an additional 41,052 shares during the period.

Analyst Ratings Changes

IRTC has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Truist Financial upped their price target on shares of iRhythm Technologies from $115.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, December 22nd. Needham & Company LLC raised their price objective on iRhythm Technologies from $136.00 to $137.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their target price on iRhythm Technologies from $142.00 to $133.00 and set an "overweight" rating for the company in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $135.11.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the completion of the transaction, the executive vice president now owns 32,967 shares of the company's stock, valued at $4,020,655.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the sale, the executive vice president now owns 32,967 shares of the company's stock, valued at approximately $4,020,655.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 24,701 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the completion of the transaction, the chief executive officer now directly owns 180,015 shares of the company's stock, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. Insiders have sold 35,052 shares of company stock worth $4,274,942 over the last quarter. 0.43% of the stock is owned by corporate insiders.

iRhythm Technologies Stock Down 1.5 %

NASDAQ IRTC traded down $1.72 during mid-day trading on Friday, reaching $113.12. 209,414 shares of the company's stock traded hands, compared to its average volume of 442,085. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. iRhythm Technologies, Inc. has a 1-year low of $70.24 and a 1-year high of $140.23. The company has a fifty day simple moving average of $112.46 and a 200-day simple moving average of $100.34. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -27.70 and a beta of 1.30.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.66). The company had revenue of $132.51 million for the quarter, compared to analyst estimates of $131.14 million. iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. As a group, equities research analysts expect that iRhythm Technologies, Inc. will post -3.14 EPS for the current year.

About iRhythm Technologies

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.