iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,423 shares of the company's stock after purchasing an additional 13,377 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.63% of iRhythm Technologies worth $14,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its stake in shares of iRhythm Technologies by 272.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company's stock worth $5,935,000 after purchasing an additional 58,448 shares during the last quarter. Assenagon Asset Management S.A. increased its position in iRhythm Technologies by 361.1% during the second quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company's stock valued at $5,270,000 after acquiring an additional 38,344 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in iRhythm Technologies by 14.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company's stock valued at $51,192,000 after acquiring an additional 60,560 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in iRhythm Technologies during the third quarter valued at $1,497,000. Finally, Eagle Asset Management Inc. increased its position in iRhythm Technologies by 44.9% during the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company's stock valued at $7,473,000 after acquiring an additional 31,193 shares during the last quarter.

iRhythm Technologies Stock Down 0.6 %

Shares of iRhythm Technologies stock traded down $0.55 during trading on Monday, reaching $86.42. The company's stock had a trading volume of 91,134 shares, compared to its average volume of 472,182. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -17.89 and a beta of 1.23. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The company has a 50-day simple moving average of $74.17 and a two-hundred day simple moving average of $81.45. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced 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). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $147.54 million during the quarter, compared to analysts' expectations of $146.69 million. During the same quarter in the prior year, the firm earned ($0.89) EPS. iRhythm Technologies's revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup dropped their price objective on iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Canaccord Genuity Group upped their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. The Goldman Sachs Group started coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 price objective on the stock. Robert W. Baird decreased their price objective on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC reduced their price target on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $108.50.

Insider Buying and Selling

In other news, Director Abhijit Y. Talwalkar bought 6,664 shares of the business's stock in a transaction on Monday, November 4th. The shares were bought at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the transaction, the director now directly owns 18,941 shares in the company, valued at $1,423,605.56. This trade represents a 54.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the sale, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. The trade was a 9.17 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

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.