6,600 Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC) Purchased by KLP Kapitalforvaltning AS

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

Several other hedge funds and other institutional investors have also made changes to their positions in IRTC. State Street Corp increased its stake in iRhythm Technologies by 1.3% in the third quarter. State Street Corp now owns 908,843 shares of the company's stock valued at $67,473,000 after purchasing an additional 11,992 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of iRhythm Technologies by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company's stock valued at $54,451,000 after buying an additional 5,423 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of iRhythm Technologies by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock valued at $50,991,000 after buying an additional 50,075 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after acquiring an additional 102,600 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in iRhythm Technologies by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock valued at $44,317,000 after acquiring an additional 92,591 shares during the last quarter.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC traded down $0.17 during midday trading on Monday, hitting $100.17. The stock had a trading volume of 546,918 shares, compared to its average volume of 454,879. The company has a market capitalization of $3.15 billion, a PE ratio of -27.52 and a beta of 1.45. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $128.52. The stock has a 50 day moving average price of $107.40 and a two-hundred day moving average price of $91.47. 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 (NASDAQ:IRTC - Get Free Report) last released its 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 company had revenue of $164.33 million for the quarter, compared to analysts' expectations of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. As a group, equities analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IRTC. Needham & Company LLC raised their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, February 21st. StockNews.com raised iRhythm Technologies from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Wells Fargo & Company boosted their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Truist Financial raised their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group upped their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.