HighTower Advisors LLC Raises Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

HighTower Advisors LLC raised its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 68.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,607 shares of the company's stock after purchasing an additional 3,102 shares during the quarter. HighTower Advisors LLC's holdings in iRhythm Technologies were worth $686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its position in iRhythm Technologies by 34.3% during the 3rd quarter. Barclays PLC now owns 209,247 shares of the company's stock valued at $15,534,000 after purchasing an additional 53,498 shares during the last quarter. FMR LLC lifted its stake in shares of iRhythm Technologies by 7.0% in the third quarter. FMR LLC now owns 388,074 shares of the company's stock worth $28,811,000 after buying an additional 25,385 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of iRhythm Technologies by 6.2% during the third quarter. Wellington Management Group LLP now owns 213,949 shares of the company's stock valued at $15,884,000 after buying an additional 12,478 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $900,000. Finally, Stephens Investment Management Group LLC increased its position in shares of iRhythm Technologies by 25.6% during 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 in the last quarter.

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iRhythm Technologies Stock Performance

IRTC traded up $1.45 during trading on Wednesday, hitting $108.33. 341,288 shares of the stock were exchanged, compared to its average volume of 459,800. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-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 firm has a market capitalization of $3.40 billion, a P/E ratio of -29.76 and a beta of 1.36. The stock has a fifty day moving average price of $107.93 and a two-hundred day moving average price of $90.71.

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 for the quarter, beating 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 for the quarter, compared to the consensus estimate of $158.30 million. As a group, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

IRTC has been the subject of a number of research reports. Needham & Company LLC upped their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company raised their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Canaccord Genuity Group upped their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a report on Monday, December 9th. StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Finally, Truist Financial raised their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies 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.