KLP Kapitalforvaltning AS Invests $595,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

KLP Kapitalforvaltning AS bought a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,600 shares of the company's stock, valued at approximately $595,000.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of iRhythm Technologies by 5.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after acquiring an additional 184 shares during the last quarter. KBC Group NV lifted its position in iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after purchasing an additional 410 shares during the last quarter. Values First Advisors Inc. grew its position in iRhythm Technologies by 9.1% in the fourth quarter. Values First Advisors Inc. now owns 5,588 shares of the company's stock worth $504,000 after acquiring an additional 467 shares in the last quarter. Finally, R Squared Ltd bought a new stake in iRhythm Technologies during the fourth quarter worth about $45,000.

iRhythm Technologies Stock Down 5.3 %

IRTC stock traded down $5.58 during midday trading on Friday, hitting $100.34. The company's stock had a trading volume of 405,490 shares, compared to its average volume of 456,256. The firm's 50-day moving average is $107.83 and its 200-day moving average is $90.82. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. The company has a market cap of $3.15 billion, a PE ratio of -27.57 and a beta of 1.45.

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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 (EPS) 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 the consensus estimate of $158.30 million. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRTC. Truist Financial boosted their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Wells Fargo & Company upped their price target on iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. The Goldman Sachs Group increased their target price on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Finally, Needham & Company LLC raised their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies Company 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.