DLD Asset Management LP Sells 23,550 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

DLD Asset Management LP decreased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 40.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,200 shares of the company's stock after selling 23,550 shares during the quarter. DLD Asset Management LP owned approximately 0.11% of iRhythm Technologies worth $3,084,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in iRhythm Technologies by 34.3% in the third 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 period. FMR LLC raised its position in shares of iRhythm Technologies by 7.0% in the 3rd quarter. FMR LLC now owns 388,074 shares of the company's stock worth $28,811,000 after acquiring an additional 25,385 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of iRhythm Technologies by 6.2% in the 3rd quarter. Wellington Management Group LLP now owns 213,949 shares of the company's stock valued at $15,884,000 after purchasing an additional 12,478 shares during the period. Verition Fund Management LLC bought a new stake in shares of iRhythm Technologies during the 3rd quarter valued at about $900,000. Finally, Stephens Investment Management Group LLC grew its stake in iRhythm Technologies by 25.6% during the fourth 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 period.

iRhythm Technologies Stock Down 3.4 %

Shares of iRhythm Technologies stock traded down $3.40 on Monday, hitting $96.95. The company had a trading volume of 164,564 shares, compared to its average volume of 453,391. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $128.52. 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 stock has a 50 day moving average of $107.62 and a 200-day moving average of $91.28. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -26.63 and a beta of 1.45.

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, beating 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 company had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. As a group, sell-side 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 firms have issued reports on IRTC. The Goldman Sachs Group increased their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. Truist Financial boosted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Oppenheimer raised their price target 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. Wells Fargo & Company upped their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a report on Friday, February 21st. Finally, StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned 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.