Cinctive Capital Management LP Takes Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Cinctive Capital Management LP bought a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,141 shares of the company's stock, valued at approximately $734,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in iRhythm Technologies by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company's stock valued at $18,983,000 after purchasing an additional 4,173 shares during the period. FMR LLC grew its stake in iRhythm Technologies by 7.0% during the 3rd 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of iRhythm Technologies by 245.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,768 shares of the company's stock valued at $874,000 after purchasing an additional 8,360 shares during the period. Verition Fund Management LLC acquired a new position in shares of iRhythm Technologies in the third quarter worth $900,000. Finally, Ascent Group LLC boosted its position in iRhythm Technologies by 35.1% during the third quarter. Ascent Group LLC now owns 7,175 shares of the company's stock valued at $533,000 after purchasing an additional 1,865 shares during the last quarter.

iRhythm Technologies Trading Down 3.5 %

iRhythm Technologies stock traded down $3.47 during mid-day trading on Tuesday, hitting $96.70. 219,798 shares of the company's stock were exchanged, compared to its average volume of 453,971. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $3.04 billion, a P/E ratio of -26.69 and a beta of 1.45. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The company's 50 day simple moving average is $107.40 and its 200-day simple moving average is $91.47.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IRTC shares. Oppenheimer upped their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Truist Financial raised their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, February 21st. StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group increased their price target 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently 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.