Laird Norton Wetherby Wealth Management LLC Invests $607,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Laird Norton Wetherby Wealth Management LLC bought a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,737 shares of the company's stock, valued at approximately $607,000.

A number of other large investors also recently modified their holdings of the stock. R Squared Ltd acquired a new position in iRhythm Technologies in the fourth quarter valued at approximately $45,000. Van ECK Associates Corp lifted its holdings in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after buying an additional 162 shares during the period. Nisa Investment Advisors LLC lifted its holdings in iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after buying an additional 648 shares during the period. KBC Group NV increased its stake in iRhythm Technologies by 45.1% in the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. Finally, Xponance Inc. bought a new stake in iRhythm Technologies in the fourth quarter valued at approximately $203,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. StockNews.com downgraded shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. The Goldman Sachs Group upped their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. Finally, Truist Financial upped their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $128.55.

iRhythm Technologies Stock Down 0.7%

iRhythm Technologies stock traded down $1.01 during mid-day trading on Tuesday, reaching $140.77. The company's stock had a trading volume of 41,593 shares, compared to its average volume of 471,820. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -38.67 and a beta of 1.34. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $142.68. The business's 50 day simple moving average is $111.46 and its 200 day simple moving average is $101.94. 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 released its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The business had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period last year, the business posted ($1.23) EPS. As a group, research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

iRhythm Technologies Company 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.