Wellington Management Group LLP Increases Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Wellington Management Group LLP grew its position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 6.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 213,949 shares of the company's stock after acquiring an additional 12,478 shares during the period. Wellington Management Group LLP owned 0.68% of iRhythm Technologies worth $15,884,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in shares of iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company's stock valued at $5,935,000 after buying an additional 58,448 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company's stock worth $5,270,000 after purchasing an additional 38,344 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of iRhythm Technologies by 14.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company's stock valued at $51,192,000 after buying an additional 60,560 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of iRhythm Technologies during the third quarter valued at approximately $1,497,000. Finally, Eagle Asset Management Inc. boosted its holdings in iRhythm Technologies by 44.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company's stock worth $7,473,000 after acquiring an additional 31,193 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group assumed coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 price target for the company. Needham & Company LLC cut their price target on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. StockNews.com lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Finally, Truist Financial lifted their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.82.

iRhythm Technologies Trading Down 1.9 %

Shares of NASDAQ:IRTC traded down $1.70 during midday trading on Friday, hitting $86.43. 320,360 shares of the stock traded hands, compared to its average volume of 466,848. The stock has a market capitalization of $2.71 billion, a PE ratio of -17.78 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 $77.33 and its two-hundred day moving average is $81.16. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.89) EPS. As a group, research analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares of the company's stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of iRhythm Technologies stock in a transaction on Monday, November 4th. The shares were 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 approximately $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is 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.