Ameriprise Financial Inc. Has $10.22 Million Stake in Irhythm Technologies Inc (IRTC)

Ameriprise Financial Inc. lifted its position in Irhythm Technologies Inc (NASDAQ:IRTC) by 88.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,036 shares of the company’s stock after acquiring an additional 92,549 shares during the quarter. Ameriprise Financial Inc. owned 0.87% of Irhythm Technologies worth $10,222,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IRTC. FMR LLC increased its stake in Irhythm Technologies by 382.2% in the 2nd quarter. FMR LLC now owns 1,542,886 shares of the company’s stock worth $65,557,000 after buying an additional 1,222,886 shares during the period. Capital Research Global Investors increased its stake in Irhythm Technologies by 103.2% in the 2nd quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock worth $101,941,000 after buying an additional 1,218,580 shares during the period. Alliancebernstein L.P. increased its stake in Irhythm Technologies by 644.3% in the 2nd quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock worth $37,561,000 after buying an additional 765,218 shares during the period. Bank of New York Mellon Corp increased its stake in Irhythm Technologies by 2,702.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock worth $25,794,000 after buying an additional 585,390 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in Irhythm Technologies in the 2nd quarter worth about $21,300,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.

Irhythm Technologies Inc (NASDAQ:IRTC) opened at $51.21 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 7.65 and a quick ratio of 7.57. Irhythm Technologies Inc has a 12-month low of $26.95 and a 12-month high of $57.90.

Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, November 1st. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. The business had revenue of $25.04 million for the quarter, compared to the consensus estimate of $24.30 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The company’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same quarter last year, the firm posted ($2.80) EPS. research analysts expect that Irhythm Technologies Inc will post -1.17 earnings per share for the current year.

Several research firms recently commented on IRTC. BidaskClub downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Royal Bank of Canada began coverage on shares of Irhythm Technologies in a research note on Monday, December 4th. They issued an “outperform” rating and a $79.00 price target on the stock. Dougherty & Co began coverage on shares of Irhythm Technologies in a research note on Friday, December 1st. They issued a “neutral” rating on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $59.00 price target on shares of Irhythm Technologies in a research note on Tuesday, November 14th. Finally, Morgan Stanley raised their price target on shares of Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $65.25.

In other Irhythm Technologies news, CFO Matthew C. Garrett sold 1,193 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $55.00, for a total transaction of $65,615.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vijay K. Lathi sold 150,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $52.57, for a total transaction of $7,885,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 493,623 shares of company stock worth $25,794,521 in the last three months. Insiders own 23.30% of the company’s stock.

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About Irhythm Technologies

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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