Homestead Advisers Corp Grows Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Homestead Advisers Corp lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,100 shares of the company's stock after acquiring an additional 6,800 shares during the quarter. Homestead Advisers Corp owned 0.09% of iRhythm Technologies worth $2,534,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its position in iRhythm Technologies by 34.3% during the third quarter. Barclays PLC now owns 209,247 shares of the company's stock worth $15,534,000 after purchasing an additional 53,498 shares in the last quarter. FMR LLC lifted its position in shares of 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 buying an additional 25,385 shares in the last quarter. Wellington Management Group LLP grew its stake in 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 acquiring an additional 12,478 shares during the period. Verition Fund Management LLC purchased a new stake in iRhythm Technologies in the 3rd quarter worth $900,000. Finally, Stephens Investment Management Group LLC raised its position 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 acquiring an additional 102,600 shares during the period.

Analysts Set New Price Targets

IRTC has been the topic of several research analyst reports. Truist Financial lifted 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. Needham & Company LLC increased 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. The Goldman Sachs Group lifted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock 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 research report on Monday, February 24th. Finally, Canaccord Genuity Group raised their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, iRhythm Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $119.73.

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iRhythm Technologies Trading Down 1.8 %

Shares of iRhythm Technologies stock traded down $1.92 during mid-day trading on Monday, hitting $103.08. The stock had a trading volume of 60,097 shares, compared to its average volume of 460,391. The firm has a market cap of $3.24 billion, a P/E ratio of -28.34 and a beta of 1.36. 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 50-day moving average of $108.09 and a two-hundred day moving average of $90.16. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $128.52.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.30. The company 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%. Sell-side analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share 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.