LPL Financial LLC Makes New Investment in iRhythm Technologies, Inc. (NASDAQ:IRTC)

LPL Financial LLC acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,691 shares of the company's stock, valued at approximately $243,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of iRhythm Technologies by 41.3% in 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 period. Bank Pictet & Cie Europe AG increased its position 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 acquiring an additional 184 shares during the period. KBC Group NV raised its stake 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 acquiring an additional 410 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of iRhythm Technologies by 9.1% during the fourth quarter. Values First Advisors Inc. now owns 5,588 shares of the company's stock worth $504,000 after purchasing an additional 467 shares during the period. Finally, R Squared Ltd bought a new stake in shares of iRhythm Technologies in the fourth quarter worth $45,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on IRTC shares. Robert W. Baird raised their target price on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $104.00 to $130.00 in a research note on Friday. StockNews.com raised iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Oppenheimer increased their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Finally, Truist Financial raised their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.55.

iRhythm Technologies Trading Up 20.7 %

Shares of NASDAQ:IRTC traded up $22.53 during mid-day trading on Friday, hitting $131.12. The company had a trading volume of 2,131,857 shares, compared to its average volume of 463,778. The company has a market capitalization of $4.19 billion, a PE ratio of -36.02 and a beta of 1.34. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $133.20. The firm has a fifty day moving average price of $104.12 and a 200 day moving average price of $96.67. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced 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 company had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. iRhythm Technologies's revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.23) EPS. As a group, research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current 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.