Graham Capital Management L.P. Lowers Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Graham Capital Management L.P. decreased its stake 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 Securities and Exchange Commission (SEC). The firm owned 2,823 shares of the company's stock after selling 2,477 shares during the period. Graham Capital Management L.P.'s holdings in iRhythm Technologies were worth $255,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $45,000. Van ECK Associates Corp grew its stake in shares of 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 buying an additional 162 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after buying an additional 648 shares in the last quarter. KBC Group NV grew its stake in shares of iRhythm Technologies by 45.1% in the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after buying an additional 410 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $203,000.

iRhythm Technologies Trading Down 0.0%

NASDAQ:IRTC opened at $141.00 on Monday. 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 50 day moving average is $110.66 and its two-hundred day moving average is $101.47. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $142.68. The company has a market cap of $4.50 billion, a PE ratio of -38.74 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released 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 return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. During the same period in the prior year, the business earned ($1.23) EPS. The company's quarterly revenue was up 20.3% on a year-over-year basis. On average, analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IRTC. Canaccord Genuity Group lowered their target price on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Truist Financial increased their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group raised their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Needham & Company LLC raised their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird raised 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. One research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $128.55.

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.

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