Rhumbline Advisers Buys 2,995 Shares of iRhythm Technologies (NASDAQ:IRTC)

Rhumbline Advisers increased its stake in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure 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 quarter.

A number of other large investors have also bought and sold shares of the stock. Van ECK Associates Corp boosted its position in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Raiffeisen Bank International AG bought a new position in iRhythm Technologies in the fourth quarter worth approximately $60,000. Xponance Inc. bought a new position in iRhythm Technologies in the fourth quarter worth approximately $203,000. LPL Financial LLC acquired a new stake in iRhythm Technologies in the fourth quarter valued at approximately $243,000. Finally, Versor Investments LP bought a new stake in shares of iRhythm Technologies during the fourth quarter valued at approximately $251,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRTC. Morgan Stanley increased their target price on iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. 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 note on Thursday, May 22nd. Robert W. Baird boosted their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Truist Financial raised their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, February 21st. 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $136.45.

iRhythm Technologies Stock Up 0.1%

IRTC stock traded up $0.14 during trading on Tuesday, reaching $144.95. The stock had a trading volume of 443,045 shares, compared to its average volume of 483,942. iRhythm Technologies has a one year low of $55.92 and a one year high of $150.00. The company's 50 day moving average is $128.59 and its two-hundred day moving average is $110.67. The company has a quick ratio of 5.58, a current ratio of 5.71 and a debt-to-equity ratio of 7.47. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of -46.16 and a beta of 1.40.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released 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 net margin of 15.90% and a negative return on equity of 101.04%. The business's revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.23) earnings per share. Equities research analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

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.