Wells Fargo & Company MN Sells 31,762 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Wells Fargo & Company MN cut its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 60.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,972 shares of the company's stock after selling 31,762 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of iRhythm Technologies worth $1,891,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of iRhythm Technologies in the fourth quarter valued at $45,000. Van ECK Associates Corp raised its position in shares of 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 acquiring an additional 162 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock worth $94,000 after purchasing an additional 648 shares during the last quarter. KBC Group NV boosted its holdings in iRhythm Technologies by 45.1% in the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock worth $119,000 after purchasing an additional 410 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of iRhythm Technologies during the third quarter worth $119,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IRTC shares. Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Truist Financial raised 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. Oppenheimer boosted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Finally, Wells Fargo & Company upped their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.73.

iRhythm Technologies Trading Down 0.4 %

NASDAQ IRTC traded down $0.41 during trading hours on Thursday, hitting $106.48. 72,793 shares of the company's stock were exchanged, compared to its average volume of 457,262. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $128.52. The stock has a 50-day simple moving average of $103.99 and a 200 day simple moving average of $95.59. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -29.23 and a beta of 1.45. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.30. The company had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. On average, equities analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

About iRhythm Technologies

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.