iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,254 shares of the company's stock after buying an additional 8,528 shares during the period. Ameriprise Financial Inc. owned about 0.23% of iRhythm Technologies worth $6,425,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after buying an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of 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 acquiring an additional 184 shares during the last quarter. Invesco Ltd. grew its holdings in iRhythm Technologies by 1.1% during the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after purchasing an additional 207 shares during the last quarter. Summit Investment Advisors Inc. boosted 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 increased its position in shares of iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock worth $119,000 after acquiring an additional 410 shares during the period.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of research analyst reports. Citigroup lifted their target price on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird upped their price objective on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Truist Financial increased their price objective 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 assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

iRhythm Technologies Stock Up 1.9%

Shares of IRTC stock traded up $2.69 during trading hours on Tuesday, reaching $145.38. The company had a trading volume of 113,771 shares, compared to its average volume of 475,299. The stock's fifty day simple moving average is $115.50 and its 200 day simple moving average is $103.87. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $146.58. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company has a market capitalization of $4.64 billion, a P/E ratio of -39.94 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $153.39 million. During the same quarter last year, the company posted ($1.23) EPS. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. As a group, sell-side analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

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.