Artisan Partners Limited Partnership Sells 17,525 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Artisan Partners Limited Partnership decreased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,762,734 shares of the company's stock after selling 17,525 shares during the period. Artisan Partners Limited Partnership owned 8.83% of iRhythm Technologies worth $249,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of iRhythm Technologies by 34.3% during the 3rd quarter. Barclays PLC now owns 209,247 shares of the company's stock valued at $15,534,000 after buying an additional 53,498 shares during the last quarter. FMR LLC lifted its stake in iRhythm Technologies by 7.0% in the third quarter. FMR LLC now owns 388,074 shares of the company's stock valued at $28,811,000 after acquiring an additional 25,385 shares during the last quarter. Wellington Management Group LLP lifted its stake in iRhythm Technologies by 6.2% in the third quarter. Wellington Management Group LLP now owns 213,949 shares of the company's stock valued at $15,884,000 after acquiring an additional 12,478 shares during the last quarter. Verition Fund Management LLC bought a new stake in iRhythm Technologies in the third quarter worth approximately $900,000. Finally, Stephens Investment Management Group LLC increased its stake in shares of iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after purchasing an additional 102,600 shares during the last quarter.

iRhythm Technologies Stock Performance

Shares of IRTC traded down $2.18 on Monday, reaching $102.83. 39,856 shares of the stock traded hands, compared to its average volume of 460,309. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -28.25 and a beta of 1.36. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. The stock's 50-day moving average price is $108.09 and its 200-day moving average price is $90.16. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. Equities analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer increased their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their price target on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, February 24th. StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group raised their price target on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies Company Profile

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.