Alliancebernstein L.P. lifted its stake in shares of Irhythm Technologies Inc (NASDAQ:IRTC) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,016,126 shares of the company’s stock after purchasing an additional 13,236 shares during the quarter. Alliancebernstein L.P. owned about 4.42% of Irhythm Technologies worth $56,954,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in IRTC. Northern Trust Corp raised its position in shares of Irhythm Technologies by 75.7% during the 2nd quarter. Northern Trust Corp now owns 158,910 shares of the company’s stock worth $6,752,000 after purchasing an additional 68,477 shares during the period. Vanguard Group Inc. increased its position in Irhythm Technologies by 37.7% in the 2nd quarter. Vanguard Group Inc. now owns 420,390 shares of the company’s stock valued at $17,863,000 after acquiring an additional 115,146 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Irhythm Technologies in the 2nd quarter valued at approximately $1,195,000. Voya Investment Management LLC acquired a new stake in Irhythm Technologies in the 2nd quarter valued at approximately $274,000. Finally, State Street Corp increased its position in Irhythm Technologies by 97.5% in the 2nd quarter. State Street Corp now owns 205,328 shares of the company’s stock valued at $8,719,000 after acquiring an additional 101,358 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.
Shares of Irhythm Technologies Inc (NASDAQ IRTC) opened at $66.61 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.72 and a quick ratio of 5.64. The company has a market capitalization of $1,530.00 and a P/E ratio of -51.64. Irhythm Technologies Inc has a 1 year low of $32.10 and a 1 year high of $68.07.
IRTC has been the topic of several analyst reports. Canaccord Genuity restated a “buy” rating and issued a $59.00 target price on shares of Irhythm Technologies in a research report on Tuesday, November 14th. Dougherty & Co initiated coverage on Irhythm Technologies in a research report on Friday, December 1st. They issued a “neutral” rating on the stock. Royal Bank of Canada initiated coverage on Irhythm Technologies in a research report on Monday, December 4th. They issued an “outperform” rating and a $79.00 target price on the stock. BidaskClub cut Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research cut Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.83.
In other Irhythm Technologies news, Director Vijay K. Lathi sold 114,018 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $66.44, for a total transaction of $7,575,355.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew C. Garrett sold 42,910 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $59.17, for a total value of $2,538,984.70. Following the transaction, 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. Over the last ninety days, insiders have sold 395,362 shares of company stock valued at $25,152,594. 23.30% of the stock is currently owned by corporate insiders.
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Irhythm Technologies Company 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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