Allspring Global Investments Holdings LLC Buys 44,387 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Allspring Global Investments Holdings LLC boosted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 519,973 shares of the company's stock after acquiring an additional 44,387 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.67% of iRhythm Technologies worth $38,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC increased its holdings 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 buying an additional 150 shares in the last quarter. Ascent Group LLC lifted its position in shares of iRhythm Technologies by 4.6% in the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company's stock valued at $462,000 after acquiring an additional 175 shares in the last quarter. Swiss National Bank raised its stake in iRhythm Technologies by 0.3% during the 1st quarter. Swiss National Bank now owns 60,500 shares of the company's stock valued at $7,018,000 after purchasing an additional 200 shares during the period. 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 worth $67,000 after buying an additional 277 shares during the period. Finally, Arizona State Retirement System lifted its stake in iRhythm Technologies by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company's stock worth $938,000 after acquiring an additional 287 shares in the last quarter.

Wall Street Analysts Forecast Growth

IRTC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Citigroup decreased their target price on iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Needham & Company LLC decreased their price objective on shares of iRhythm Technologies from $138.00 to $119.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Finally, Truist Financial lifted their price objective on iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.90.

Insider Activity at iRhythm Technologies

In related news, EVP Mervin Smith sold 688 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $51,366.08. Following the completion of the transaction, the executive vice president now directly owns 10,360 shares of the company's stock, valued at approximately $773,477.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now owns 37,133 shares of the company's stock, valued at $2,772,349.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the transaction, the executive vice president now owns 10,360 shares of the company's stock, valued at $773,477.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,072 shares of company stock valued at $372,748. Corporate insiders own 0.68% of the company's stock.

iRhythm Technologies Trading Down 1.6 %

IRTC traded down $1.23 during trading on Wednesday, reaching $74.36. 721,172 shares of the company's stock were exchanged, compared to its average volume of 462,741. The company's fifty day moving average price is $68.28 and its 200-day moving average price is $86.84. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The firm has a market capitalization of $2.31 billion, a PE ratio of -17.58 and a beta of 1.22. The company has a debt-to-equity ratio of 6.50, a quick ratio of 6.76 and a current ratio of 6.92.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The firm had revenue of $148.05 million during the quarter, compared to analysts' expectations of $146.15 million. During the same period in the previous year, the firm earned ($0.61) earnings per share. The company's revenue was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that iRhythm Technologies, Inc. will post -2.66 EPS for the current year.

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.