Silver Oak Securities Incorporated Makes New $301,000 Investment in iRhythm Technologies (NASDAQ:IRTC)

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

Several other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after purchasing an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in iRhythm Technologies by 5.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after purchasing an additional 184 shares during the last quarter. Invesco Ltd. boosted its stake in iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company's stock worth $1,731,000 after buying an additional 207 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in iRhythm Technologies by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company's stock worth $295,000 after buying an additional 210 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in iRhythm Technologies by 5.9% during the fourth quarter. Handelsbanken Fonder AB now owns 10,839 shares of the company's stock worth $977,000 after buying an additional 600 shares during the last quarter.

iRhythm Technologies Trading Up 3.6%

Shares of iRhythm Technologies stock traded up $5.21 during trading hours on Monday, hitting $150.95. The company's stock had a trading volume of 472,443 shares, compared to its average volume of 480,243. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $151.26. The firm has a fifty day moving average of $132.19 and a 200-day moving average of $112.57. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -48.07 and a beta of 1.40. 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 (NASDAQ:IRTC - Get Free Report) last posted 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). 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 for the quarter, compared to analyst estimates of $153.39 million. During the same period in the previous year, the company posted ($1.23) EPS. iRhythm Technologies's revenue was up 20.3% on a year-over-year basis. Research analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup boosted their price objective on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group boosted their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, February 24th. Morgan Stanley boosted their price objective on iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Needham & Company LLC boosted their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.60.

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.