Bryce Point Capital LLC Makes New $1.27 Million Investment in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bryce Point Capital LLC purchased a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,093 shares of the company's stock, valued at approximately $1,271,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRTC. Wellington Management Group LLP increased its holdings in shares of iRhythm Technologies by 9.3% in the fourth quarter. Wellington Management Group LLP now owns 233,840 shares of the company's stock valued at $21,085,000 after purchasing an additional 19,891 shares during the last quarter. Homestead Advisers Corp grew its stake in iRhythm Technologies by 31.9% in the 4th quarter. Homestead Advisers Corp now owns 28,100 shares of the company's stock valued at $2,534,000 after buying an additional 6,800 shares during the last quarter. EFG Asset Management North America Corp. raised its holdings in iRhythm Technologies by 113.6% in the 4th quarter. EFG Asset Management North America Corp. now owns 28,430 shares of the company's stock valued at $2,565,000 after acquiring an additional 15,118 shares during the period. Segall Bryant & Hamill LLC lifted its position in iRhythm Technologies by 5.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 139,391 shares of the company's stock worth $12,569,000 after acquiring an additional 6,789 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in iRhythm Technologies by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company's stock worth $282,806,000 after acquiring an additional 18,442 shares during the last quarter.

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iRhythm Technologies Price Performance

NASDAQ IRTC traded up $0.67 on Tuesday, hitting $100.84. 57,101 shares of the company's stock were exchanged, compared to its average volume of 453,351. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52. The stock has a 50-day moving average of $107.40 and a 200-day moving average of $91.47. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -27.71 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

IRTC has been the topic of a number of recent research reports. Needham & Company LLC increased their target price on iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Truist Financial increased their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Oppenheimer boosted their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target 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, The Goldman Sachs Group boosted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.