Schroder Investment Management Group Sells 18,062 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Schroder Investment Management Group reduced its position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 308,338 shares of the company's stock after selling 18,062 shares during the period. Schroder Investment Management Group owned about 0.99% of iRhythm Technologies worth $27,803,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Stephens Investment Management Group LLC increased its holdings in shares of iRhythm Technologies by 25.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock valued at $45,349,000 after purchasing an additional 102,600 shares during the period. Raymond James Financial Inc. purchased a new position in iRhythm Technologies during the fourth quarter valued at approximately $9,151,000. Bank of New York Mellon Corp increased its stake in iRhythm Technologies by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock valued at $44,317,000 after buying an additional 92,591 shares during the period. Western Standard LLC purchased a new stake in iRhythm Technologies in the 3rd quarter worth approximately $4,535,000. Finally, Barclays PLC boosted its stake in shares of iRhythm Technologies by 34.3% during the 3rd quarter. Barclays PLC now owns 209,247 shares of the company's stock valued at $15,534,000 after buying an additional 53,498 shares during the period.

iRhythm Technologies Stock Performance

IRTC stock traded down $5.58 during midday trading on Friday, hitting $100.34. 405,490 shares of the company traded hands, compared to its average volume of 456,256. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -27.57 and a beta of 1.45. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The business has a 50 day simple moving average of $107.83 and a 200-day simple moving average of $90.82.

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iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. As a group, equities research analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Oppenheimer upped their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on 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 boosted their price target on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $119.73.

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.