Russell Investments Group Ltd. Cuts Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Russell Investments Group Ltd. cut its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,265 shares of the company's stock after selling 2,586 shares during the period. Russell Investments Group Ltd. owned 0.07% of iRhythm Technologies worth $2,008,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new position in shares of iRhythm Technologies in the 3rd quarter worth approximately $334,000. Barclays PLC boosted its position in shares of iRhythm Technologies by 34.3% during the third quarter. Barclays PLC now owns 209,247 shares of the company's stock worth $15,534,000 after buying an additional 53,498 shares during the period. Geode Capital Management LLC raised 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 during the period. Wilmington Savings Fund Society FSB acquired a new position in iRhythm Technologies during the 3rd quarter worth about $119,000. Finally, Synovus Financial Corp grew its position in iRhythm Technologies by 28.8% in the 3rd quarter. Synovus Financial Corp now owns 8,718 shares of the company's stock valued at $647,000 after acquiring an additional 1,948 shares in the last quarter.

iRhythm Technologies Stock Performance

iRhythm Technologies stock traded up $2.44 during mid-day trading on Thursday, reaching $105.08. 39,009 shares of the company were exchanged, compared to its average volume of 458,315. The firm's 50-day simple moving average is $104.76 and its two-hundred day simple moving average is $93.96. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The firm has a market cap of $3.35 billion, a PE ratio of -28.87 and a beta of 1.45. 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 data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $164.33 million for the quarter, compared to analysts' expectations of $158.30 million. Equities analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer lifted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Needham & Company LLC raised their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a report on Friday, February 21st. StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company raised their price target 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $119.73.

iRhythm Technologies 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.