Vanguard Group Inc. Buys 18,442 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Vanguard Group Inc. grew its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,136,370 shares of the company's stock after purchasing an additional 18,442 shares during the quarter. Vanguard Group Inc. owned approximately 10.02% of iRhythm Technologies worth $282,806,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on IRTC. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Truist Financial raised their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price target on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wells Fargo & Company boosted their target price on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.73.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC traded up $6.61 during trading hours on Wednesday, hitting $103.45. 681,226 shares of the company's stock traded hands, compared to its average volume of 457,112. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -28.42 and a beta of 1.45. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company's fifty day simple moving average is $106.63 and its two-hundred day simple moving average is $92.01.

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 firm had revenue of $164.33 million for 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%. As a group, equities analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal 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.