Yarbrough Capital LLC Invests $487,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Yarbrough Capital LLC acquired a new stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,650 shares of the company's stock, valued at approximately $487,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRTC. Van ECK Associates Corp raised its holdings in shares of 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 acquiring an additional 162 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in iRhythm Technologies by 5.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock worth $297,000 after purchasing an additional 184 shares in the last quarter. Invesco Ltd. lifted its position in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company's stock worth $1,731,000 after purchasing an additional 207 shares during the period. Summit Investment Advisors Inc. increased its position in shares of iRhythm Technologies by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company's stock valued at $295,000 after buying an additional 210 shares during the period. Finally, KBC Group NV raised 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 worth $119,000 after buying an additional 410 shares in the last quarter.

iRhythm Technologies Price Performance

Shares of IRTC traded up $0.80 during trading hours on Monday, reaching $147.48. 491,538 shares of the stock traded hands, compared to its average volume of 481,899. The company's 50-day moving average price is $122.38 and its two-hundred day moving average price is $107.82. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $147.94. The company has a market cap of $4.71 billion, a P/E ratio of -40.52 and a beta of 1.40. 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 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 firm had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. During the same quarter in the prior year, the company posted ($1.23) earnings per share. The firm's revenue was up 20.3% compared to the same quarter last year. On average, analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analysts Set New Price Targets

IRTC has been the topic of several research reports. Citigroup lifted their price target on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Truist Financial increased their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Robert W. Baird lifted their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company upgraded 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 note on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, iRhythm Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $133.73.

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.