Segall Bryant & Hamill LLC Boosts Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Segall Bryant & Hamill LLC raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,391 shares of the company's stock after purchasing an additional 6,789 shares during the period. Segall Bryant & Hamill LLC owned 0.45% of iRhythm Technologies worth $12,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new position in iRhythm Technologies in the third quarter valued at $702,000. Charles Schwab Investment Management Inc. raised its position in shares of iRhythm Technologies by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company's stock worth $18,983,000 after acquiring an additional 4,173 shares in the last quarter. Algert Global LLC lifted its stake in iRhythm Technologies by 332.8% during the third quarter. Algert Global LLC now owns 13,560 shares of the company's stock worth $1,007,000 after purchasing an additional 10,427 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in iRhythm Technologies in the third quarter valued at approximately $1,497,000. Finally, The Manufacturers Life Insurance Company raised its holdings in iRhythm Technologies by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 196,423 shares of the company's stock worth $14,582,000 after purchasing an additional 13,377 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on IRTC. StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. The Goldman Sachs Group lifted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a report on Monday, December 9th. Truist Financial lifted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, 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 note on Friday, February 21st. 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.com, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.73.

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iRhythm Technologies Price Performance

Shares of NASDAQ IRTC traded down $1.11 during midday trading on Friday, hitting $105.00. The company had a trading volume of 233,597 shares, compared to its average volume of 461,972. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -28.85 and a beta of 1.36. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The business has a 50-day simple moving average of $108.09 and a two-hundred day simple moving average of $89.94. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Equities research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

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.