Perceptive Advisors LLC Acquires 89,814 Shares of Irhythm Technologies Inc (IRTC)

Perceptive Advisors LLC increased its holdings in Irhythm Technologies Inc (NASDAQ:IRTC) by 31.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,671 shares of the company’s stock after purchasing an additional 89,814 shares during the period. Perceptive Advisors LLC owned approximately 1.64% of Irhythm Technologies worth $19,335,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Legal & General Group Plc increased its holdings in shares of Irhythm Technologies by 131.0% during the second quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock worth $143,000 after buying an additional 1,913 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Irhythm Technologies by 763.9% during the third quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after buying an additional 2,582 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Irhythm Technologies by 92.8% during the second quarter. Nationwide Fund Advisors now owns 7,843 shares of the company’s stock worth $333,000 after buying an additional 3,774 shares in the last quarter. EAM Investors LLC increased its holdings in shares of Irhythm Technologies by 19.7% in the second quarter. EAM Investors LLC now owns 24,942 shares of the company’s stock valued at $1,060,000 after purchasing an additional 4,106 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Irhythm Technologies by 84.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock valued at $476,000 after purchasing an additional 5,124 shares in the last quarter. 97.80% of the stock is owned by hedge funds and other institutional investors.

IRTC has been the subject of a number of research reports. Zacks Investment Research raised shares of Irhythm Technologies from a “sell” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, October 4th. Morgan Stanley raised their price target on shares of Irhythm Technologies from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Canaccord Genuity raised their price target on shares of Irhythm Technologies from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 22nd. Dougherty & Co initiated coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They issued a “neutral” rating for the company. Finally, Royal Bank Of Canada started coverage on shares of Irhythm Technologies in a report on Monday, December 4th. They issued an “outperform” rating and a $79.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Irhythm Technologies presently has an average rating of “Buy” and a consensus target price of $65.25.

In other news, Director Vijay K. Lathi sold 225,000 shares of Irhythm Technologies stock in a transaction on Friday, November 17th. The shares were sold at an average price of $52.10, for a total transaction of $11,722,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David A. Vort sold 5,000 shares of Irhythm Technologies stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $48.76, for a total transaction of $243,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 533,236 shares of company stock worth $27,752,011. Insiders own 23.30% of the company’s stock.

Irhythm Technologies Inc (NASDAQ:IRTC) opened at $52.40 on Friday. Irhythm Technologies Inc has a 52 week low of $24.25 and a 52 week high of $57.90. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.05. The company had revenue of $25.04 million for the quarter, compared to analysts’ expectations of $24.30 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The business’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same period last year, the firm posted ($2.80) earnings per share. equities analysts forecast that Irhythm Technologies Inc will post -1.17 EPS for the current year.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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

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