iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,988 shares of the company's stock after buying an additional 3,079 shares during the period. ProShare Advisors LLC's holdings in iRhythm Technologies were worth $810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. R Squared Ltd purchased a new position in shares of iRhythm Technologies during the fourth quarter worth $45,000. Van ECK Associates Corp increased its holdings 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 buying an additional 162 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in 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 increased its holdings in 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. purchased a new position in iRhythm Technologies in the fourth quarter valued at $203,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC lifted their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Canaccord Genuity Group dropped their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird lifted their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

iRhythm Technologies Stock Performance

iRhythm Technologies stock traded up $1.41 during midday trading on Thursday, hitting $142.78. 313,617 shares of the company's stock were exchanged, compared to its average volume of 476,706. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $146.58. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of -39.24 and a beta of 1.34. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The firm's 50 day simple moving average is $117.08 and its 200 day simple moving average is $104.42.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $153.39 million. During the same quarter last year, the business posted ($1.23) EPS. The firm's revenue was up 20.3% on a year-over-year basis. Equities research analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

iRhythm Technologies 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.