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Polar Asset Management Partners Inc. Sells 82,300 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

iRhythm Technologies logo with Medical background

Polar Asset Management Partners Inc. reduced its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 88.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the company's stock after selling 82,300 shares during the period. Polar Asset Management Partners Inc.'s holdings in iRhythm Technologies were worth $992,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IRTC. R Squared Ltd bought a new position in shares of iRhythm Technologies in the fourth quarter worth $45,000. Van ECK Associates Corp boosted its stake in iRhythm Technologies by 41.3% during 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 during the period. Nisa Investment Advisors LLC grew its position in iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock worth $94,000 after buying an additional 648 shares in the last quarter. KBC Group NV increased its stake in iRhythm Technologies by 45.1% in the 4th 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 last quarter. Finally, Xponance Inc. bought a new position in iRhythm Technologies in the 4th quarter worth about $203,000.

iRhythm Technologies Trading Up 0.5%

IRTC traded up $0.76 during trading on Friday, hitting $143.20. 78,682 shares of the stock traded hands, compared to its average volume of 475,038. The firm has a market capitalization of $4.57 billion, a P/E ratio of -39.41 and a beta of 1.34. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $143.88. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm has a 50-day moving average of $113.89 and a 200 day moving average of $102.89.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.23) earnings per share. Equities research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analysts Set New Price Targets

IRTC has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, February 24th. Truist Financial boosted their price target 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. Citigroup raised 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. Canaccord Genuity Group dropped their price objective 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, Wall Street Zen cut 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 issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

View Our Latest Stock Report on iRhythm Technologies

About iRhythm Technologies

(Free Report)

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.

See Also

Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

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