Mackenzie Financial Corp Decreases Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Mackenzie Financial Corp cut its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,381,942 shares of the company's stock after selling 37,892 shares during the quarter. Mackenzie Financial Corp owned 4.42% of iRhythm Technologies worth $124,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of iRhythm Technologies in the fourth quarter valued at $45,000. Van ECK Associates Corp grew its holdings 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 purchasing an additional 162 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of iRhythm Technologies in the fourth quarter valued at $60,000. Nisa Investment Advisors LLC grew its holdings 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 purchasing an additional 648 shares in the last quarter. Finally, KBC Group NV boosted its stake in 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 buying an additional 410 shares during the period.

iRhythm Technologies Stock Down 1.2%

Shares of IRTC stock traded down $1.77 on Friday, hitting $140.47. The stock had a trading volume of 344,824 shares, compared to its average volume of 469,010. 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 has a 50 day moving average price of $117.81 and a 200 day moving average price of $104.79. The company has a market cap of $4.48 billion, a PE ratio of -38.59 and a beta of 1.34. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $146.58.

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 the consensus estimate of ($0.89) by ($0.06). The firm had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business's revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.23) earnings per share. Research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IRTC shares. Truist Financial lifted their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, February 24th. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. Needham & Company LLC lifted their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, iRhythm Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

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.