430,500 Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC) Bought by First Light Asset Management LLC

First Light Asset Management LLC acquired a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 430,500 shares of the company's stock, valued at approximately $38,818,000. iRhythm Technologies accounts for about 3.7% of First Light Asset Management LLC's portfolio, making the stock its 11th largest position. First Light Asset Management LLC owned 1.38% of iRhythm Technologies as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IRTC. Vanguard Group Inc. raised its holdings in shares of iRhythm Technologies by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company's stock worth $282,806,000 after purchasing an additional 18,442 shares during the period. Champlain Investment Partners LLC lifted its position in iRhythm Technologies by 8.9% during the fourth quarter. Champlain Investment Partners LLC now owns 726,262 shares of the company's stock valued at $65,487,000 after buying an additional 59,161 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in iRhythm Technologies by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock valued at $50,991,000 after buying an additional 50,075 shares in the last quarter. Bessemer Group Inc. grew its stake in iRhythm Technologies by 111.7% during the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after buying an additional 299,726 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of iRhythm Technologies by 25.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after acquiring an additional 102,600 shares in the last quarter.

iRhythm Technologies Stock Up 20.7 %

iRhythm Technologies stock traded up $22.53 during midday trading on Friday, hitting $131.12. The stock had a trading volume of 2,131,857 shares, compared to its average volume of 465,473. The business has a fifty day moving average price of $104.12 and a 200 day moving average price of $96.43. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $133.20. The stock has a market cap of $4.19 billion, a P/E ratio of -36.02 and a beta of 1.34. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The firm had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business's revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.23) earnings per share. Research analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRTC. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $104.00 to $130.00 in a research report on Friday. Truist Financial increased 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. Robert W. Baird boosted their price target on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday. Canaccord Genuity Group lowered their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research report on Friday. Finally, StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.55.

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.