Cibc World Markets Corp Invests $264,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Cibc World Markets Corp acquired a new position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,925 shares of the company's stock, valued at approximately $264,000.

Several other hedge funds also recently made changes to their positions in the business. R Squared Ltd purchased a new stake in shares of iRhythm Technologies during the fourth quarter valued at $45,000. Van ECK Associates Corp boosted its holdings in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after buying an additional 162 shares during the period. Quarry LP acquired a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $59,000. Nisa Investment Advisors LLC lifted its position in shares of iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after acquiring an additional 648 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in iRhythm Technologies in the 3rd quarter worth approximately $119,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IRTC. Oppenheimer increased their target price 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 raised their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Needham & Company LLC upped their target price on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a report on Friday, February 21st. Truist Financial raised their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wells Fargo & Company increased 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies has an average rating of "Moderate Buy" and a consensus target price of $119.73.

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iRhythm Technologies Stock Down 1.0 %

Shares of IRTC traded down $1.11 during trading hours on Friday, hitting $105.00. 233,597 shares of the company were exchanged, compared to its average volume of 461,972. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company has a market cap of $3.30 billion, a PE ratio of -28.85 and a beta of 1.36. The firm's 50 day moving average is $108.09 and its 200-day moving average is $90.06. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its 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. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $164.33 million during the quarter, compared to analysts' expectations of $158.30 million. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

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.