Harbor Capital Advisors Inc. Has $5.94 Million Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Harbor Capital Advisors Inc. boosted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 272.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,938 shares of the company's stock after purchasing an additional 58,448 shares during the period. Harbor Capital Advisors Inc. owned 0.26% of iRhythm Technologies worth $5,935,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IRTC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of iRhythm Technologies by 7.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,111 shares of the company's stock worth $9,360,000 after purchasing an additional 5,276 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of iRhythm Technologies by 9.2% during the 1st quarter. BNP Paribas Financial Markets now owns 16,176 shares of the company's stock valued at $1,876,000 after buying an additional 1,358 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of iRhythm Technologies during the 1st quarter valued at $1,925,000. SG Americas Securities LLC acquired a new position in shares of iRhythm Technologies in the first quarter worth $126,000. Finally, Swiss National Bank raised its holdings in shares of iRhythm Technologies by 0.3% during the first quarter. Swiss National Bank now owns 60,500 shares of the company's stock worth $7,018,000 after acquiring an additional 200 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on IRTC shares. The Goldman Sachs Group started coverage on iRhythm Technologies in a research report on Friday, October 4th. They issued a "neutral" rating and a $78.00 target price on the stock. Needham & Company LLC reduced their target price on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley reduced their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. Citigroup decreased their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. 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 report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $108.50.

iRhythm Technologies Stock Up 8.5 %

Shares of NASDAQ:IRTC traded up $6.40 during mid-day trading on Monday, reaching $81.44. 836,886 shares of the stock were exchanged, compared to its average volume of 472,016. The stock's 50 day simple moving average is $69.24 and its 200-day simple moving average is $84.85. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11. The company has a market cap of $2.55 billion, a P/E ratio of -16.51 and a beta of 1.23. The company has a quick ratio of 6.76, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million for 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 was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.89) earnings per share. As a group, equities research analysts predict that iRhythm Technologies, Inc. will post -2.66 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares in the company, valued at $1,718,265.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.68% of the company's stock.

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.