Farringdon Capital Ltd. Invests $426,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Farringdon Capital Ltd. acquired a new position in 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 acquired 4,721 shares of the company's stock, valued at approximately $426,000.

Several other large investors also recently made changes to their positions in IRTC. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 18,442 shares in the last quarter. Geode Capital Management LLC boosted its holdings in iRhythm Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 733,308 shares of the company's stock valued at $54,451,000 after acquiring an additional 5,423 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in iRhythm Technologies by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock worth $50,991,000 after purchasing an additional 50,075 shares during the last quarter. Bessemer Group Inc. lifted its position in iRhythm Technologies by 111.7% during the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock valued at $51,217,000 after purchasing an additional 299,726 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in iRhythm Technologies by 25.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock valued at $45,349,000 after acquiring an additional 102,600 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IRTC shares. The Goldman Sachs Group upped their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Needham & Company LLC upped their target price 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. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Oppenheimer increased their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $119.73.

iRhythm Technologies Trading Up 4.3 %

Shares of iRhythm Technologies stock traded up $4.25 on Wednesday, hitting $103.73. The stock had a trading volume of 85,149 shares, compared to its average volume of 458,159. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $128.52. 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 stock's 50-day simple moving average is $104.95 and its two-hundred day simple moving average is $93.90. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -28.50 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The business had revenue of $164.33 million for 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, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current 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.