Bessemer Group Inc. Increases Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bessemer Group Inc. boosted its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 111.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 568,007 shares of the company's stock after buying an additional 299,726 shares during the period. Bessemer Group Inc. owned approximately 1.81% of iRhythm Technologies worth $51,217,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IRTC. Stephens Investment Management Group LLC lifted its stake in shares of iRhythm Technologies by 25.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after buying an additional 102,600 shares in the last quarter. Raymond James Financial Inc. purchased a new position in iRhythm Technologies in the 4th quarter worth approximately $9,151,000. Bank of New York Mellon Corp lifted its position in iRhythm Technologies by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock valued at $44,317,000 after acquiring an additional 92,591 shares in the last quarter. Barclays PLC boosted its stake in 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 purchasing an additional 53,498 shares during the last quarter. Finally, Alberta Investment Management Corp increased its holdings in shares of iRhythm Technologies by 53.3% in the 4th quarter. Alberta Investment Management Corp now owns 145,166 shares of the company's stock worth $13,090,000 after purchasing an additional 50,452 shares in the last quarter.

iRhythm Technologies Trading Down 2.3 %

Shares of NASDAQ:IRTC traded down $2.42 during trading on Tuesday, hitting $100.78. The company had a trading volume of 96,807 shares, compared to its average volume of 456,824. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -27.69 and a beta of 1.45. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company has a fifty day simple moving average of $106.10 and a two-hundred day simple moving average of $92.77. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $128.52.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Wells Fargo & Company boosted their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Oppenheimer lifted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Needham & Company LLC boosted their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group upped their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.73.

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.