Raymond James Financial Inc. purchased a new position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 101,487 shares of the company's stock, valued at approximately $9,151,000. Raymond James Financial Inc. owned 0.32% of iRhythm Technologies at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of IRTC. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of iRhythm Technologies in the third quarter valued at approximately $1,522,000. Segall Bryant & Hamill LLC increased its holdings in iRhythm Technologies by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 132,602 shares of the company's stock worth $9,844,000 after acquiring an additional 2,742 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock worth $52,501,000 after acquiring an additional 195,246 shares in the last quarter. Intech Investment Management LLC acquired a new position in iRhythm Technologies during the third quarter worth $702,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in iRhythm Technologies by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company's stock valued at $18,983,000 after purchasing an additional 4,173 shares in the last quarter.
Analyst Ratings Changes
A number of research firms have recently commented on IRTC. Wells Fargo & Company boosted their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. 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 report on Friday, February 21st. StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th. The Goldman Sachs Group increased 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, Truist Financial boosted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $119.73.
Check Out Our Latest Stock Analysis on IRTC
iRhythm Technologies Trading Up 0.7 %
Shares of NASDAQ IRTC traded up $0.74 during mid-day trading on Tuesday, reaching $106.60. 291,374 shares of the company's stock were exchanged, compared to its average volume of 460,191. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -29.29 and a beta of 1.36. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52. The company's 50-day moving average is $107.99 and its 200-day moving average is $89.19. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.
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 for the quarter, beating analysts' consensus estimates of ($0.29) by $0.30. The business had revenue of $164.33 million during the quarter, compared to analysts' expectations of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. Analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.
iRhythm Technologies Company Profile
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Free Report)
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.
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