Mackenzie Financial Corp cut its position in Irhythm Technologies Inc (NASDAQ:IRTC) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,230 shares of the company’s stock after selling 11,400 shares during the quarter. Mackenzie Financial Corp’s holdings in Irhythm Technologies were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in Irhythm Technologies by 763.9% during the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after purchasing an additional 2,582 shares in the last quarter. Shaker Investments LLC OH acquired a new position in Irhythm Technologies during the 4th quarter worth $263,000. Voya Investment Management LLC acquired a new position in Irhythm Technologies during the 2nd quarter worth $274,000. The Manufacturers Life Insurance Company grew its stake in Irhythm Technologies by 84.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock worth $476,000 after purchasing an additional 5,124 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in Irhythm Technologies during the 4th quarter worth $529,000. 98.59% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Canaccord Genuity reissued a “buy” rating and set a $80.00 target price (up from $68.00) on shares of Irhythm Technologies in a research note on Monday. BMO Capital Markets assumed coverage on Irhythm Technologies in a research note on Monday, March 5th. They set an “outperform” rating and a $76.00 target price for the company. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. boosted their target price on Irhythm Technologies from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, ValuEngine raised Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.83.
Irhythm Technologies Inc (NASDAQ:IRTC) opened at $66.61 on Tuesday. Irhythm Technologies Inc has a 1 year low of $32.10 and a 1 year high of $68.07. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). The business had revenue of $28.20 million for the quarter, compared to analyst estimates of $26.79 million. Irhythm Technologies had a negative return on equity of 34.44% and a negative net margin of 29.87%. The company’s revenue was up 50.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.37) earnings per share. sell-side analysts predict that Irhythm Technologies Inc will post -1.53 earnings per share for the current fiscal year.
About Irhythm Technologies
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.
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