Perceptive Advisors LLC boosted its position in Irhythm Technologies Inc (NASDAQ:IRTC) by 14.7% in the 4th quarter, Holdings Channel reports. The firm owned 427,371 shares of the company’s stock after acquiring an additional 54,700 shares during the quarter. Perceptive Advisors LLC’s holdings in Irhythm Technologies were worth $23,954,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRTC. Advisor Group Inc. raised its stake in Irhythm Technologies by 763.9% in the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after purchasing an additional 2,582 shares during the last quarter. Shaker Investments LLC OH acquired a new position in Irhythm Technologies in the 4th quarter valued at $263,000. Voya Investment Management LLC acquired a new position in Irhythm Technologies in the 2nd quarter valued at $274,000. Two Sigma Advisers LP acquired a new position in Irhythm Technologies in the 4th quarter valued at $331,000. Finally, The Manufacturers Life Insurance Company raised its stake in Irhythm Technologies by 84.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock valued at $476,000 after purchasing an additional 5,124 shares during the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Canaccord Genuity reissued a “positive” rating and issued a $80.00 price objective (up from $68.00) on shares of Irhythm Technologies in a research note on Monday. BMO Capital Markets assumed coverage on Irhythm Technologies in a research note on Monday, March 5th. They issued an “outperform” rating and a $76.00 price objective for the company. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. raised their target price on Irhythm Technologies from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, ValuEngine raised Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $70.83.
Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.13). Irhythm Technologies had a negative return on equity of 34.44% and a negative net margin of 29.87%. The company had revenue of $28.20 million during the quarter, compared to analyst estimates of $26.79 million. During the same period last year, the business earned ($0.37) earnings per share. The firm’s revenue was up 50.8% compared to the same quarter last year. sell-side analysts anticipate that Irhythm Technologies Inc will post -1.53 earnings per share for the current fiscal year.
In other Irhythm Technologies news, Director Vijay K. Lathi sold 169,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $62.41, for a total value of $10,547,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew C. Garrett sold 42,910 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $59.17, for a total value of $2,538,984.70. Following the completion of the sale, the chief financial officer now directly owns 36,085 shares of the company’s stock, valued at $2,135,149.45. The disclosure for this sale can be found here. Insiders sold a total of 281,344 shares of company stock valued at $17,577,239 over the last ninety days. Corporate 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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