Bridgewater Associates LP Has $303,000 Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bridgewater Associates LP reduced its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 65.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,364 shares of the company's stock after selling 6,489 shares during the quarter. Bridgewater Associates LP's holdings in iRhythm Technologies were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRTC. R Squared Ltd bought a new position in iRhythm Technologies during the fourth quarter worth $45,000. Van ECK Associates Corp lifted 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 buying an additional 162 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock worth $94,000 after buying an additional 648 shares during the period. KBC Group NV grew its stake in iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after buying an additional 410 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in iRhythm Technologies in the 3rd quarter valued at about $119,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IRTC shares. StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Oppenheimer increased their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC raised their price target 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies Price Performance

iRhythm Technologies stock traded up $2.18 during trading hours on Thursday, reaching $104.82. 155,403 shares of the stock were exchanged, compared to its average volume of 459,067. The stock has a 50 day moving average of $104.76 and a two-hundred day moving average of $93.96. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. 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 company has a market cap of $3.35 billion, a P/E ratio of -28.80 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $158.30 million. Equities analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS 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.