Monimus Capital Management LP Invests $1.05 Million in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Monimus Capital Management LP acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,659 shares of the company's stock, valued at approximately $1,051,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRTC. R Squared Ltd bought a new position in iRhythm Technologies during the 4th quarter valued at about $45,000. Van ECK Associates Corp grew its holdings in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after acquiring an additional 162 shares during the period. Quarry LP purchased a new position in iRhythm Technologies in the third quarter worth about $59,000. Nisa Investment Advisors LLC grew its stake 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 valued at $94,000 after purchasing an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of iRhythm Technologies in the 3rd quarter worth approximately $119,000.

Analysts Set New Price Targets

IRTC has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Needham & Company LLC upped 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. 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. Finally, Oppenheimer boosted their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, iRhythm Technologies currently has an average rating of "Moderate Buy" and an average target price of $119.73.

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iRhythm Technologies Stock Performance

Shares of IRTC stock traded up $1.45 during trading hours on Wednesday, hitting $103.11. The company's stock had a trading volume of 497,985 shares, compared to its average volume of 460,426. The company has a 50 day moving average of $107.20 and a 200 day moving average of $88.17. The stock has a market cap of $3.24 billion, a PE ratio of -28.33 and a beta of 1.36. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-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.

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 for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. On average, sell-side analysts forecast 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.