iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 318,653 shares of the company's stock after buying an additional 18,358 shares during the period. Sei Investments Co. owned 1.02% of iRhythm Technologies worth $28,733,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IRTC. Xponance Inc. acquired a new position in iRhythm Technologies in the 4th quarter valued at about $203,000. Intech Investment Management LLC increased its holdings in shares of iRhythm Technologies by 57.8% in the fourth quarter. Intech Investment Management LLC now owns 14,927 shares of the company's stock valued at $1,346,000 after purchasing an additional 5,467 shares during the period. Cibc World Markets Corp acquired a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $264,000. Monimus Capital Management LP purchased a new stake in shares of iRhythm Technologies during the fourth quarter worth approximately $1,051,000. Finally, Swiss National Bank lifted its holdings in shares of iRhythm Technologies by 1.2% during the fourth quarter. Swiss National Bank now owns 61,400 shares of the company's stock worth $5,536,000 after purchasing an additional 700 shares during the period.

Analyst Ratings Changes

IRTC has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Canaccord Genuity Group increased their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Oppenheimer lifted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. Finally, Truist Financial raised their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $119.73.

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iRhythm Technologies Price Performance

IRTC stock traded down $1.11 during midday trading on Friday, hitting $105.00. 233,597 shares of the stock were exchanged, compared to its average volume of 461,972. The stock's 50-day moving average price is $108.09 and its 200-day moving average price is $90.06. 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 stock has a market cap of $3.30 billion, a price-to-earnings ratio of -28.85 and a beta of 1.36. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52.

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

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.