iRhythm Technologies, Inc. (NASDAQ:IRTC) Holdings Lowered by Graham Capital Management L.P.

Graham Capital Management L.P. decreased its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 46.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,823 shares of the company's stock after selling 2,477 shares during the quarter. Graham Capital Management L.P.'s holdings in iRhythm Technologies were worth $255,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. First Light Asset Management LLC purchased a new position in shares of iRhythm Technologies in the fourth quarter valued at $38,818,000. Bessemer Group Inc. increased its position in shares of iRhythm Technologies by 111.7% in the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock valued at $51,217,000 after buying an additional 299,726 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of iRhythm Technologies by 364.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 355,147 shares of the company's stock valued at $32,024,000 after buying an additional 278,743 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of iRhythm Technologies in the fourth quarter valued at $14,068,000. Finally, Stephens Investment Management Group LLC increased its position in shares of iRhythm Technologies by 25.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock valued at $45,349,000 after buying an additional 102,600 shares in the last quarter.

iRhythm Technologies Stock Performance

IRTC traded up $0.25 during trading on Friday, reaching $142.69. 346,959 shares of the company were exchanged, compared to its average volume of 476,703. The stock has a market cap of $4.56 billion, a P/E ratio of -39.20 and a beta of 1.34. The firm has a 50 day moving average of $114.71 and a 200 day moving average of $103.37. 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, Inc. has a 52 week low of $55.92 and a 52 week high of $144.25.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly 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 return on equity of 118.83% and a negative net margin of 19.14%. The business had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. During the same quarter last year, the firm posted ($1.23) EPS. The company's revenue was up 20.3% compared to the same quarter last year. On average, sell-side analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of recent research reports. Truist Financial lifted 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. Needham & Company LLC raised their price target on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Canaccord Genuity Group decreased their price target on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, iRhythm Technologies has an average rating of "Moderate Buy" and a consensus target price of $133.73.

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.