Nuveen Asset Management LLC Raises Stake in Irhythm Technologies Inc (NASDAQ:IRTC)

Nuveen Asset Management LLC lifted its position in Irhythm Technologies Inc (NASDAQ:IRTC) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,180 shares of the company’s stock after purchasing an additional 531 shares during the period. Nuveen Asset Management LLC owned about 0.06% of Irhythm Technologies worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRTC. Quantamental Technologies LLC bought a new stake in Irhythm Technologies during the 4th quarter valued at about $55,000. Pearl River Capital LLC bought a new stake in Irhythm Technologies during the 4th quarter valued at about $66,000. Bank of Montreal Can lifted its holdings in Irhythm Technologies by 574.7% during the 4th quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock valued at $78,000 after buying an additional 954 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Irhythm Technologies by 38.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock valued at $89,000 after buying an additional 358 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new stake in Irhythm Technologies during the 3rd quarter valued at about $160,000.

NASDAQ:IRTC traded up $0.51 during trading hours on Friday, hitting $68.92. 517,907 shares of the company were exchanged, compared to its average volume of 741,658. The company has a market cap of $1.69 billion, a PE ratio of -36.47 and a beta of 1.72. Irhythm Technologies Inc has a 52-week low of $55.18 and a 52-week high of $98.37. The company has a current ratio of 3.52, a quick ratio of 3.45 and a debt-to-equity ratio of 0.64.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Tuesday, February 12th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.03). The company had revenue of $43.16 million for the quarter, compared to analysts’ expectations of $40.21 million. Irhythm Technologies had a negative return on equity of 69.79% and a negative net margin of 32.78%. The firm’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.48) EPS. As a group, analysts expect that Irhythm Technologies Inc will post -1.65 EPS for the current fiscal year.

In other Irhythm Technologies news, CFO Matthew C. Garrett sold 20,203 shares of Irhythm Technologies stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $90.10, for a total transaction of $1,820,290.30. Following the completion of the sale, the chief financial officer now directly owns 40,407 shares in the company, valued at approximately $3,640,670.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.76, for a total transaction of $5,325,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,891 shares of company stock worth $10,558,098. 5.05% of the stock is owned by insiders.

Several equities research analysts have recently commented on IRTC shares. Zacks Investment Research upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday. Canaccord Genuity boosted their price target on shares of Irhythm Technologies from $84.00 to $90.00 and gave the company a “buy” rating in a report on Friday, January 11th. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Chardan Capital lowered shares of Irhythm Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $111.00 to $104.00 in a report on Wednesday, February 20th. Finally, BTIG Research raised shares of Irhythm Technologies from a “neutral” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $96.22.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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