Intech Investment Management LLC grew its position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 57.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,927 shares of the company's stock after purchasing an additional 5,467 shares during the quarter. Intech Investment Management LLC's holdings in iRhythm Technologies were worth $1,346,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of IRTC. Eventide Asset Management LLC raised its holdings in iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock worth $54,694,000 after acquiring an additional 464,629 shares during the period. Braidwell LP increased its stake in shares of iRhythm Technologies by 48.7% in the third quarter. Braidwell LP now owns 782,557 shares of the company's stock worth $58,097,000 after purchasing an additional 256,200 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of iRhythm Technologies by 38.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock worth $52,501,000 after purchasing an additional 195,246 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock valued at $45,349,000 after purchasing an additional 102,600 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in iRhythm Technologies in the 4th quarter valued at approximately $9,151,000.
iRhythm Technologies Price Performance
Shares of IRTC stock traded down $1.64 during trading hours on Wednesday, hitting $104.96. The company had a trading volume of 202,693 shares, compared to its average volume of 457,891. 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 firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -28.84 and a beta of 1.36. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. The firm's fifty day moving average is $108.14 and its 200 day moving average is $89.47.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced 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 analysts' expectations of $158.30 million. On average, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently commented on IRTC shares. The Goldman Sachs Group upped 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. Wells Fargo & Company increased their price target 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. Oppenheimer boosted 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. Needham & Company LLC increased their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.73.
View Our Latest Analysis on IRTC
About iRhythm Technologies
(
Free Report)
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.
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