Irhythm Technologies Inc (IRTC) Holdings Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in Irhythm Technologies Inc (NASDAQ:IRTC) by 18.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 826,252 shares of the company’s stock after buying an additional 129,506 shares during the period. Wells Fargo & Company MN owned approximately 3.50% of Irhythm Technologies worth $67,033,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its holdings in Irhythm Technologies by 1.1% in the first quarter. BlackRock Inc. now owns 1,621,618 shares of the company’s stock worth $102,081,000 after buying an additional 17,368 shares during the last quarter. Franklin Resources Inc. raised its holdings in Irhythm Technologies by 1.4% in the first quarter. Franklin Resources Inc. now owns 1,065,716 shares of the company’s stock worth $67,087,000 after buying an additional 15,200 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Irhythm Technologies by 20.4% in the first quarter. JPMorgan Chase & Co. now owns 624,595 shares of the company’s stock worth $39,318,000 after buying an additional 106,030 shares during the last quarter. Millennium Management LLC raised its holdings in Irhythm Technologies by 50.2% in the first quarter. Millennium Management LLC now owns 620,500 shares of the company’s stock worth $39,060,000 after buying an additional 207,413 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Irhythm Technologies by 17.6% in the first quarter. Point72 Asset Management L.P. now owns 552,859 shares of the company’s stock worth $34,802,000 after acquiring an additional 82,760 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ IRTC opened at $83.91 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.58 and a quick ratio of 5.47. The company has a market cap of $2.01 billion, a P/E ratio of -64.55 and a beta of 1.02. Irhythm Technologies Inc has a 12-month low of $43.03 and a 12-month high of $90.40.

Irhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Wednesday, August 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.12). The business had revenue of $35.50 million for the quarter, compared to the consensus estimate of $32.52 million. Irhythm Technologies had a negative net margin of 34.38% and a negative return on equity of 53.59%. The business’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.29) earnings per share. equities research analysts anticipate that Irhythm Technologies Inc will post -1.91 EPS for the current year.

IRTC has been the subject of a number of research analyst reports. Dougherty & Co lowered shares of Irhythm Technologies from a “neutral” rating to a “sell” rating in a research note on Monday, July 16th. BMO Capital Markets lifted their price target on shares of Irhythm Technologies to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. BidaskClub lowered shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Morgan Stanley lifted their price target on shares of Irhythm Technologies from $70.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, June 4th. Finally, Zacks Investment Research lowered shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $84.29.

In related news, Director Raymond W. Scott sold 6,877 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $80.41, for a total transaction of $552,979.57. Following the completion of the sale, the director now directly owns 8,905 shares in the company, valued at $716,051.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derrick Sung sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the sale, the insider now owns 23,858 shares of the company’s stock, valued at $1,670,060. The disclosure for this sale can be found here. Insiders have sold 101,414 shares of company stock valued at $8,266,879 over the last 90 days. 5.05% of the stock is currently owned by company insiders.

Irhythm Technologies Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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

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