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

Yarbrough Capital LLC acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,650 shares of the company's stock, valued at approximately $487,000.

Other hedge funds have also recently modified their holdings of the company. First Light Asset Management LLC purchased a new stake in iRhythm Technologies in the fourth quarter worth about $38,818,000. Bessemer Group Inc. grew its holdings in iRhythm Technologies by 111.7% in the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after purchasing an additional 299,726 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in iRhythm Technologies by 364.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 355,147 shares of the company's stock worth $32,024,000 after acquiring an additional 278,743 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in iRhythm Technologies in the fourth quarter worth about $14,068,000. Finally, Stephens Investment Management Group LLC raised its holdings in 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 buying an additional 102,600 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on IRTC shares. Canaccord Genuity Group reduced their target price on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Robert W. Baird upped their price target on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Citigroup boosted their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $136.45.

iRhythm Technologies Trading Down 0.8%

IRTC traded down $1.15 on Wednesday, hitting $147.38. The company had a trading volume of 487,500 shares, compared to its average volume of 482,334. The company has a market cap of $4.71 billion, a PE ratio of -40.49 and a beta of 1.40. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $150.00. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The business's fifty day simple moving average is $124.01 and its 200 day simple moving average is $108.61.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $158.68 million during the quarter, compared to analysts' expectations of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the company earned ($1.23) earnings per share. Equities research analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

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.