Algert Global LLC Purchases 6,083 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Algert Global LLC lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 44.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,643 shares of the company's stock after buying an additional 6,083 shares during the period. Algert Global LLC owned about 0.06% of iRhythm Technologies worth $1,771,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IRTC. R Squared Ltd bought a new position in iRhythm Technologies during the 4th quarter valued at approximately $45,000. Van ECK Associates Corp raised its stake in iRhythm Technologies by 41.3% during 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 last quarter. Nisa Investment Advisors LLC raised its stake in iRhythm Technologies by 166.6% during 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 last quarter. KBC Group NV raised its stake in iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after buying an additional 410 shares during the last quarter. Finally, Xponance Inc. purchased a new position in iRhythm Technologies during the fourth quarter valued at $203,000.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC traded up $1.98 during mid-day trading on Tuesday, reaching $139.78. The stock had a trading volume of 389,041 shares, compared to its average volume of 470,166. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The company has a market cap of $4.46 billion, a P/E ratio of -38.40 and a beta of 1.34. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $143.58. The business's 50 day moving average price is $107.51 and its 200 day moving average price is $99.65.

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

Analyst Ratings Changes

Several research firms have recently weighed in on IRTC. Wells Fargo & Company upgraded iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. Robert W. Baird upped their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group cut their price target on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Needham & Company LLC upped their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.55.

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.