SG Americas Securities LLC Grows Position in iRhythm Technologies (NASDAQ:IRTC)

SG Americas Securities LLC boosted its position in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 95.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,427 shares of the company's stock after buying an additional 4,119 shares during the period. SG Americas Securities LLC's holdings in iRhythm Technologies were worth $882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in iRhythm Technologies by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company's stock worth $282,806,000 after acquiring an additional 18,442 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in shares of iRhythm Technologies by 8.9% in the fourth quarter. Champlain Investment Partners LLC now owns 726,262 shares of the company's stock valued at $65,487,000 after purchasing an additional 59,161 shares in the last quarter. Bessemer Group Inc. increased its position in iRhythm Technologies by 111.7% in the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after purchasing an additional 299,726 shares during the last quarter. Bank of New York Mellon Corp increased its position in iRhythm Technologies by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock worth $44,317,000 after purchasing an additional 92,591 shares during the last quarter. Finally, First Light Asset Management LLC bought a new position in iRhythm Technologies during the fourth quarter valued at $38,818,000.

Analyst Upgrades and Downgrades

IRTC has been the topic of a number of research reports. Wall Street Zen downgraded shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company upgraded iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Citigroup raised their price objective on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley boosted their target price on iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group increased their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.60.

iRhythm Technologies Trading Up 0.1%

Shares of IRTC stock traded up $0.21 on Friday, reaching $145.74. 373,252 shares of the company's stock were exchanged, compared to its average volume of 480,274. The company's fifty day simple moving average is $131.24 and its 200 day simple moving average is $111.90. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $150.00. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47. The stock has a market capitalization of $4.65 billion, a PE ratio of -46.41 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 for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The firm's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.23) earnings per share. As a group, analysts forecast that iRhythm Technologies 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.