Fmr LLC Has $28.81 Million Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

FMR LLC boosted its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,074 shares of the company's stock after purchasing an additional 25,385 shares during the quarter. FMR LLC owned about 1.24% of iRhythm Technologies worth $28,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock valued at $67,000 after acquiring an additional 277 shares during the period. nVerses Capital LLC boosted its position in shares of iRhythm Technologies by 400.0% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock valued at $148,000 after acquiring an additional 1,600 shares during the period. SeaCrest Wealth Management LLC boosted its position in shares of iRhythm Technologies by 7.6% in the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company's stock valued at $229,000 after acquiring an additional 150 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of iRhythm Technologies by 22.3% in the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company's stock valued at $231,000 after acquiring an additional 567 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of iRhythm Technologies in the third quarter valued at about $243,000.

Insider Activity

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company's stock in a transaction 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 sale, the insider now owns 35,327 shares of the company's stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar acquired 6,664 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $75.16 per share, with a total value of $500,866.24. Following the completion of the transaction, the director now owns 18,941 shares in the company, valued at approximately $1,423,605.56. This represents a 54.28 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

iRhythm Technologies Trading Up 5.0 %

NASDAQ IRTC traded up $4.11 during trading hours on Tuesday, reaching $86.90. The company's stock had a trading volume of 269,721 shares, compared to its average volume of 469,219. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11. 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 stock has a market cap of $2.72 billion, a P/E ratio of -17.88 and a beta of 1.26. The firm has a fifty day simple moving average of $75.74 and a 200-day simple moving average of $81.13.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.89) EPS. Equities analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC cut their price objective on shares of iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Citigroup cut their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Truist Financial upped their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 price objective for the company. Finally, Robert W. Baird cut their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $107.82.

iRhythm Technologies Profile

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.