iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Braidwell LP

Braidwell LP reduced its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 705,391 shares of the company's stock after selling 77,166 shares during the period. iRhythm Technologies makes up 1.9% of Braidwell LP's holdings, making the stock its 18th biggest position. Braidwell LP owned 2.25% of iRhythm Technologies worth $63,605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRTC. First Light Asset Management LLC purchased a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $38,818,000. Bessemer Group Inc. raised its holdings in shares of iRhythm Technologies by 111.7% during the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after acquiring an additional 299,726 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock valued at $45,349,000 after acquiring an additional 102,600 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of iRhythm Technologies during the 4th quarter valued at about $9,151,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $9,017,000.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their price target 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 lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group upped their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. Finally, Robert W. Baird boosted their target price on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.55.

iRhythm Technologies Stock Up 0.5 %

Shares of NASDAQ:IRTC traded up $0.70 on Friday, hitting $137.70. 493,149 shares of the company's stock were exchanged, compared to its average volume of 469,212. The firm's 50-day moving average is $106.91 and its 200 day moving average is $99.07. The company has a market capitalization of $4.40 billion, a PE ratio of -37.83 and a beta of 1.34. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $140.73. 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 posted its earnings results on Thursday, May 1st. The company reported ($0.95) 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 during the quarter, compared to analysts' expectations of $153.39 million. During the same period last year, the business earned ($1.23) earnings per share. The company's quarterly revenue was up 20.3% on a year-over-year basis. Sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS 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.