iRhythm Technologies (NASDAQ:IRTC) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 95.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,427 shares of the company's stock after acquiring an additional 4,119 shares during the quarter. SG Americas Securities LLC's holdings in iRhythm Technologies were worth $882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IRTC. Van ECK Associates Corp lifted 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 acquiring an additional 162 shares during the period. Raiffeisen Bank International AG bought a new position in iRhythm Technologies in the fourth quarter valued at about $60,000. Avanza Fonder AB bought a new position in iRhythm Technologies in the first quarter valued at about $123,000. Xponance Inc. bought a new position in iRhythm Technologies in the fourth quarter valued at about $203,000. Finally, SeaCrest Wealth Management LLC bought a new position in iRhythm Technologies in the first quarter valued at about $212,000.

Analysts Set New Price Targets

A number of analysts have commented on IRTC shares. Needham & Company LLC upped their price target on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. Robert W. Baird increased their price objective on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. The Goldman Sachs Group increased their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, February 24th. Finally, Wall Street Zen cut shares of 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 given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $136.45.

iRhythm Technologies Stock Performance

IRTC traded up $0.21 on Friday, reaching $145.74. The stock had a trading volume of 373,252 shares, compared to its average volume of 482,279. iRhythm Technologies has a 12-month low of $55.92 and a 12-month 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 business's 50-day moving average price is $130.36 and its two-hundred day moving average price is $111.31. The company has a market cap of $4.65 billion, a P/E ratio of -46.41 and a beta of 1.40.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. The firm had revenue of $158.68 million during the quarter, compared to analysts' expectations of $153.39 million. During the same period in the previous year, the firm posted ($1.23) EPS. The firm's quarterly revenue was up 20.3% on a year-over-year basis. Sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share 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.