Wellington Management Group LLP Grows Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Wellington Management Group LLP grew its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 9.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 233,840 shares of the company's stock after buying an additional 19,891 shares during the period. Wellington Management Group LLP owned approximately 0.75% of iRhythm Technologies worth $21,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IRTC. Van ECK Associates Corp raised its holdings in iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after buying an additional 162 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of iRhythm Technologies by 5.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after acquiring an additional 184 shares during the period. KBC Group NV lifted its holdings in shares of iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company's stock worth $119,000 after acquiring an additional 410 shares during the last quarter. Values First Advisors Inc. boosted its stake in shares of iRhythm Technologies by 9.1% during the 4th quarter. Values First Advisors Inc. now owns 5,588 shares of the company's stock worth $504,000 after purchasing an additional 467 shares during the period. Finally, R Squared Ltd bought a new position in iRhythm Technologies during the 4th quarter valued at about $45,000.

Analysts Set New Price Targets

IRTC has been the subject of several analyst reports. StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. The Goldman Sachs Group raised their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, February 24th. Needham & Company LLC upped their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Oppenheimer lifted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies Stock Up 3.3 %

Shares of IRTC traded up $3.30 during mid-day trading on Friday, hitting $102.09. The company's stock had a trading volume of 486,477 shares, compared to its average volume of 457,677. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The company's 50-day moving average is $106.26 and its 200-day moving average is $92.41. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -28.05 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

iRhythm Technologies Company 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.