EFG Asset Management North America Corp. Increases Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

EFG Asset Management North America Corp. increased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 113.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,430 shares of the company's stock after buying an additional 15,118 shares during the quarter. EFG Asset Management North America Corp. owned 0.09% of iRhythm Technologies worth $2,565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in iRhythm Technologies during the fourth quarter worth about $45,000. Van ECK Associates Corp boosted its stake in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after acquiring an additional 162 shares during the period. Quarry LP acquired a new position in shares of iRhythm Technologies during the 3rd quarter worth approximately $59,000. Nisa Investment Advisors LLC raised its stake in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after acquiring an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in iRhythm Technologies during the 3rd quarter valued at $119,000.

Analyst Upgrades and Downgrades

Several research firms have commented on IRTC. Oppenheimer upped their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Truist Financial upped their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Needham & Company LLC increased their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a report on Friday, February 21st. Wells Fargo & Company boosted their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Finally, 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 report on Monday, February 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies Trading Down 1.0 %

IRTC stock traded down $1.11 during midday trading on Friday, hitting $105.00. The stock had a trading volume of 233,597 shares, compared to its average volume of 461,972. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market cap of $3.30 billion, a P/E ratio of -28.85 and a beta of 1.36. The business has a fifty day moving average price of $108.09 and a two-hundred day moving average price of $90.06. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $128.52.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued 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. The firm had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. On average, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

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.