Rhumbline Advisers Has $4.81 Million Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Rhumbline Advisers lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,946 shares of the company's stock after acquiring an additional 2,995 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of iRhythm Technologies worth $4,810,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IRTC. First Light Asset Management LLC acquired a new stake in shares of iRhythm Technologies during the 4th quarter valued at $38,818,000. Bessemer Group Inc. boosted its holdings in shares of iRhythm Technologies by 111.7% during the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock valued at $51,217,000 after acquiring an additional 299,726 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in iRhythm Technologies by 364.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 355,147 shares of the company's stock worth $32,024,000 after buying an additional 278,743 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in iRhythm Technologies during the 4th quarter worth about $14,068,000. Finally, Raymond James Financial Inc. acquired a new position in iRhythm Technologies during the 4th quarter worth about $9,151,000.

Analysts Set New Price Targets

Several brokerages have commented on IRTC. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $104.00 to $130.00 in a report on Friday, May 2nd. The Goldman Sachs Group lifted their target price on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. Wall Street Zen downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Needham & Company LLC lifted their target price on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Citigroup lifted their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $136.45.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $143.85 on Friday. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $150.00. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -39.52 and a beta of 1.40. The business has a 50-day simple moving average of $126.80 and a 200 day simple moving average of $109.74. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

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

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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