iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,947 shares of the company’s stock after purchasing an additional 5,009 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.27% of iRhythm Technologies worth $7,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in iRhythm Technologies during the 3rd quarter valued at about $1,497,000. Eagle Asset Management Inc. boosted its position in shares of iRhythm Technologies by 44.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after purchasing an additional 31,193 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of iRhythm Technologies in the 2nd quarter worth approximately $2,071,000. The Manufacturers Life Insurance Company raised its holdings in shares of iRhythm Technologies by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 183,046 shares of the company’s stock worth $19,703,000 after purchasing an additional 11,031 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after purchasing an additional 195,246 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on IRTC shares. The Goldman Sachs Group initiated coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They issued a “neutral” rating and a $78.00 price target on the stock. Canaccord Genuity Group lifted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial upped their target price on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company reissued an “equal weight” rating and issued a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

iRhythm Technologies Stock Down 1.1 %

NASDAQ:IRTC traded down $0.99 during trading hours on Friday, reaching $92.01. The company’s stock had a trading volume of 255,225 shares, compared to its average volume of 254,814. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -18.93 and a beta of 1.26. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11. The business’s 50-day moving average is $86.18 and its 200-day moving average is $80.76.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company had revenue of $147.54 million for the quarter, compared to the consensus estimate of $146.69 million. During the same quarter last year, the company posted ($0.89) EPS. The business’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts predict that iRhythm Technologies, Inc. will post -3.35 EPS for the current year.

Insider Activity at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This represents a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

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.