GAMMA Investing LLC Increases Stake in iRhythm Technologies (NASDAQ:IRTC)

GAMMA Investing LLC grew its stake in iRhythm Technologies (NASDAQ:IRTC - Free Report) by 30,928.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,688 shares of the company's stock after acquiring an additional 8,660 shares during the quarter. GAMMA Investing LLC's holdings in iRhythm Technologies were worth $909,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after purchasing an additional 162 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of iRhythm Technologies in the 4th quarter worth approximately $60,000. Xponance Inc. bought a new position in shares of iRhythm Technologies during the 4th quarter worth approximately $203,000. LPL Financial LLC purchased a new stake in iRhythm Technologies during the fourth quarter valued at approximately $243,000. Finally, Versor Investments LP acquired a new stake in iRhythm Technologies in the fourth quarter valued at approximately $251,000.

iRhythm Technologies Stock Performance

IRTC traded up $0.08 during midday trading on Friday, hitting $145.61. 149,430 shares of the company were exchanged, compared to its average volume of 482,070. The company's 50 day simple moving average is $130.36 and its 200 day simple moving average is $111.31. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -46.37 and a beta of 1.40. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $150.00. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released 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). iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. The firm had revenue of $158.68 million during the quarter, compared to analysts' expectations of $153.39 million. During the same period in the previous year, the firm posted ($1.23) EPS. The firm's quarterly revenue was up 20.3% on a year-over-year basis. As a group, sell-side analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IRTC. Truist Financial raised their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wall Street Zen downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Citigroup increased 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. Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group raised their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.45.

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.