Frontier Capital Management Co. LLC Buys 278,743 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Frontier Capital Management Co. LLC grew its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 364.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 355,147 shares of the company's stock after buying an additional 278,743 shares during the period. Frontier Capital Management Co. LLC owned approximately 1.13% of iRhythm Technologies worth $32,024,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of iRhythm Technologies during the fourth quarter valued at about $45,000. Van ECK Associates Corp raised its position in shares of iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after buying an additional 162 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after buying an additional 648 shares during the last quarter. KBC Group NV raised its position in shares of iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after buying an additional 410 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in iRhythm Technologies in the third quarter worth about $119,000.

iRhythm Technologies Price Performance

iRhythm Technologies stock traded up $0.70 during trading hours on Friday, hitting $137.70. 493,149 shares of the stock were exchanged, compared to its average volume of 469,212. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The stock has a market capitalization of $4.40 billion, a P/E ratio of -37.83 and a beta of 1.34. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $140.73. The business's 50-day moving average is $106.91 and its two-hundred day moving average is $99.21.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data 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 firm 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 118.83% and a negative net margin of 19.14%. iRhythm Technologies's quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.23) earnings per share. Equities research analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target 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. StockNews.com lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Needham & Company LLC increased their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Truist Financial increased their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group dropped their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $128.55.

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.