iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 14.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 475,586 shares of the company's stock after buying an additional 60,560 shares during the period. Allspring Global Investments Holdings LLC owned 1.53% of iRhythm Technologies worth $51,192,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in iRhythm Technologies by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 7,208 shares of the company's stock valued at $772,000 after buying an additional 113 shares during the period. SeaCrest Wealth Management LLC grew its position in 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 last quarter. Ascent Group LLC grew its holdings in shares of iRhythm Technologies by 4.6% during the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company's stock valued at $462,000 after purchasing an additional 175 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in iRhythm Technologies by 3.3% in the 4th quarter. Handelsbanken Fonder AB now owns 6,239 shares of the company's stock valued at $668,000 after purchasing an additional 200 shares during the last quarter. Finally, Swiss National Bank boosted its position in iRhythm Technologies by 0.3% in the first quarter. Swiss National Bank now owns 60,500 shares of the company's stock valued at $7,018,000 after buying an additional 200 shares in the last quarter.

iRhythm Technologies Stock Up 0.9 %

NASDAQ:IRTC traded up $0.61 during midday trading on Wednesday, reaching $68.56. The company had a trading volume of 215,171 shares, compared to its average volume of 431,170. iRhythm Technologies, Inc. has a 12-month low of $63.65 and a 12-month high of $124.11. The stock's fifty day simple moving average is $86.97 and its 200-day simple moving average is $98.89. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -16.21 and a beta of 1.25.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 75.14% and a negative net margin of 24.50%. The company had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. During the same quarter last year, the company posted ($0.61) earnings per share. The business's quarterly revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts anticipate that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IRTC has been the topic of a number of recent analyst reports. Wolfe Research raised iRhythm Technologies from a "peer perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a research note on Thursday, June 20th. Needham & Company LLC lowered their target price on shares of iRhythm Technologies from $138.00 to $119.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Oppenheimer lowered their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on shares of iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.67.

Insider Activity at iRhythm Technologies

In other news, CFO Brice Bobzien sold 1,372 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now directly owns 37,133 shares in the company, valued at approximately $2,772,349.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brice Bobzien sold 1,372 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, the chief financial officer now directly owns 24,428 shares of the company's stock, valued at $1,718,265.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,117 shares of company stock valued at $666,982. 0.68% of the stock is owned by corporate insiders.

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.