iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 491,485 shares of the company's stock after purchasing an additional 92,591 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.57% of iRhythm Technologies worth $44,317,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IRTC. State Street Corp raised its position in shares of iRhythm Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 908,843 shares of the company's stock worth $67,473,000 after purchasing an additional 11,992 shares during the last quarter. Braidwell LP raised its holdings 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 acquiring an additional 256,200 shares during the last quarter. Eventide Asset Management LLC lifted its position in shares of iRhythm Technologies by 170.8% in the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock valued at $54,694,000 after acquiring an additional 464,629 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of iRhythm Technologies by 0.7% during the third quarter. Geode Capital Management LLC now owns 733,308 shares of the company's stock valued at $54,451,000 after acquiring an additional 5,423 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock valued at $52,501,000 after acquiring an additional 195,246 shares during the last quarter.

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iRhythm Technologies Trading Down 3.7 %

IRTC stock traded down $3.75 during trading on Monday, reaching $98.00. 502,784 shares of the stock traded hands, compared to its average volume of 473,880. The firm has a market capitalization of $3.08 billion, a PE ratio of -26.92 and a beta of 1.36. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The business's 50 day moving average price is $105.66 and its 200-day moving average price is $86.64. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $164.33 million during the quarter, compared to analysts' expectations of $158.30 million. As a group, sell-side analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC boosted 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. Canaccord Genuity Group upped their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Truist Financial lifted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Finally, Wells Fargo & Company raised 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $119.73.

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.