Harbor Capital Advisors Inc. Buys 5,009 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Harbor Capital Advisors Inc. lifted its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 6.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 84,947 shares of the company’s stock after acquiring an additional 5,009 shares during the period. Harbor Capital Advisors Inc.’s holdings in iRhythm Technologies were worth $7,660,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co lifted its holdings in shares of iRhythm Technologies by 25.4% during the 4th quarter. Diversified Trust Co now owns 8,276 shares of the company’s stock worth $746,000 after acquiring an additional 1,677 shares during the period. Synovus Financial Corp increased its holdings in shares of iRhythm Technologies by 28.8% during the third quarter. Synovus Financial Corp now owns 8,718 shares of the company’s stock worth $647,000 after buying an additional 1,948 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of iRhythm Technologies in the 3rd quarter worth approximately $119,000. Geode Capital Management LLC grew its position in iRhythm Technologies by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock worth $54,451,000 after acquiring an additional 5,423 shares during the last quarter. Finally, Brophy Wealth Management LLC acquired a new stake in iRhythm Technologies during the 3rd quarter valued at $274,000.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the transaction, the chief executive officer now owns 159,929 shares in the company, valued at $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 owned by company insiders.

Wall Street Analysts Forecast Growth

IRTC has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 price target on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Truist Financial raised their price target on iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird lowered their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

iRhythm Technologies Stock Down 1.1 %

Shares of NASDAQ:IRTC traded down $0.99 during midday trading on Friday, reaching $92.01. The company had a trading volume of 255,225 shares, compared to its average volume of 254,814. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The stock has a market cap of $2.88 billion, a PE ratio of -18.93 and a beta of 1.26. 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 business’s 50 day moving average price is $86.18 and its 200 day moving average price is $80.76.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data 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 return on equity of 120.86% and a negative net margin of 26.90%. The firm had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. During the same quarter in the prior year, the firm earned ($0.89) earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Research analysts forecast that iRhythm Technologies, Inc. will post -3.35 EPS for the current fiscal 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.