Silver Oak Securities Incorporated Acquires Shares of 2,863 iRhythm Technologies (NASDAQ:IRTC)

Silver Oak Securities Incorporated acquired a new position in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,863 shares of the company's stock, valued at approximately $301,000.

Other institutional investors also recently made changes to their positions in the company. First Light Asset Management LLC acquired a new stake in shares of iRhythm Technologies during the fourth quarter worth approximately $38,818,000. Bessemer Group Inc. grew its holdings in iRhythm Technologies by 111.7% during the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after acquiring an additional 299,726 shares in the last quarter. Frontier Capital Management Co. LLC grew 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 acquiring an additional 278,743 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of iRhythm Technologies in the 4th quarter worth about $14,068,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $9,151,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IRTC shares. Robert W. Baird lifted their price target on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Citigroup lifted their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.45.

iRhythm Technologies Stock Up 0.4%

iRhythm Technologies stock opened at $145.53 on Friday. The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. iRhythm Technologies has a one year low of $55.92 and a one year high of $150.00. The company has a 50-day simple moving average of $130.36 and a 200-day simple moving average of $111.31. The firm has a market capitalization of $4.65 billion, a P/E ratio of -46.35 and a beta of 1.40.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted 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 101.04% and a negative net margin of 15.90%. The firm had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. During the same quarter last year, the company posted ($1.23) EPS. iRhythm Technologies's revenue for the quarter was up 20.3% on a year-over-year basis. As a group, equities analysts expect 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.

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