Polar Capital Holdings Plc Lowers Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Polar Capital Holdings Plc decreased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,773 shares of the company's stock after selling 7,392 shares during the quarter. Polar Capital Holdings Plc owned about 0.16% of iRhythm Technologies worth $4,488,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IRTC. R Squared Ltd bought a new stake in iRhythm Technologies during the 4th quarter valued at $45,000. Van ECK Associates Corp raised its position in iRhythm Technologies by 41.3% during 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 in the last quarter. Nisa Investment Advisors LLC raised its position in iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after purchasing an additional 648 shares in the last quarter. KBC Group NV raised its position in iRhythm Technologies by 45.1% during the 4th quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. Finally, Xponance Inc. bought a new stake in iRhythm Technologies during the 4th quarter valued at $203,000.

Wall Street Analysts Forecast Growth

IRTC has been the subject of several recent research reports. StockNews.com lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Wells Fargo & Company upgraded iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Needham & Company LLC upped their target price on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Canaccord Genuity Group lowered their price objective on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird upped their target price on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $128.55.

iRhythm Technologies Trading Up 0.9%

Shares of IRTC traded up $1.30 during midday trading on Wednesday, reaching $142.51. The company had a trading volume of 141,411 shares, compared to its average volume of 473,029. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $142.84. The stock has a market cap of $4.55 billion, a PE ratio of -39.16 and a beta of 1.34. The firm has a 50 day simple moving average of $112.33 and a 200-day simple moving average of $102.21. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $158.68 million for the quarter, compared to analysts' expectations of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.23) earnings per share. Research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal 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.