Wells Fargo & Company MN lowered its stake in shares of Irhythm Technologies Inc (NASDAQ:IRTC) by 45.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,324 shares of the company’s stock after selling 276,863 shares during the quarter. Wells Fargo & Company MN owned about 1.45% of Irhythm Technologies worth $18,627,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in IRTC. JPMorgan Chase & Co. boosted its stake in shares of Irhythm Technologies by 9,692.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock valued at $16,220,000 after purchasing an additional 310,171 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Irhythm Technologies by 21.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 737,271 shares of the company’s stock worth $38,250,000 after buying an additional 130,217 shares in the last quarter. Vanguard Group Inc. lifted its position in Irhythm Technologies by 37.7% during the 2nd quarter. Vanguard Group Inc. now owns 420,390 shares of the company’s stock worth $17,863,000 after buying an additional 115,146 shares in the last quarter. State Street Corp lifted its position in Irhythm Technologies by 97.5% during the 2nd quarter. State Street Corp now owns 205,328 shares of the company’s stock worth $8,719,000 after buying an additional 101,358 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Irhythm Technologies by 88.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 197,036 shares of the company’s stock worth $10,222,000 after buying an additional 92,549 shares in the last quarter. 98.59% of the stock is currently owned by institutional investors and hedge funds.
Irhythm Technologies Inc (IRTC) opened at $66.94 on Monday. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1,569.85, a PE ratio of -51.49 and a beta of 0.98. Irhythm Technologies Inc has a 52-week low of $32.10 and a 52-week high of $68.07.
IRTC has been the topic of several research reports. Canaccord Genuity reiterated a “positive” rating and set a $80.00 price target (up previously from $68.00) on shares of Irhythm Technologies in a research report on Monday. Zacks Investment Research downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada initiated coverage on shares of Irhythm Technologies in a research report on Monday, December 4th. They set an “outperform” rating and a $79.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $70.83.
In other news, EVP David A. Vort sold 935 shares of the company’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $67.01, for a total value of $62,654.35. Following the completion of the sale, the executive vice president now directly owns 22,221 shares of the company’s stock, valued at approximately $1,489,029.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin M. King sold 60,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $64.52, for a total value of $3,871,200.00. Following the completion of the sale, the insider now directly owns 201,842 shares of the company’s stock, valued at $13,022,845.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 281,344 shares of company stock valued at $17,577,239. 23.30% of the stock is currently owned by company insiders.
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Irhythm Technologies Profile
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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