Price T Rowe Associates Inc. MD Sells 2,278 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Price T Rowe Associates Inc. MD decreased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,848 shares of the company's stock after selling 2,278 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of iRhythm Technologies worth $1,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of iRhythm Technologies by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company's stock valued at $282,806,000 after acquiring an additional 18,442 shares during the period. Champlain Investment Partners LLC grew its position in iRhythm Technologies by 8.9% in the 4th quarter. Champlain Investment Partners LLC now owns 726,262 shares of the company's stock worth $65,487,000 after purchasing an additional 59,161 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of iRhythm Technologies by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock worth $50,991,000 after purchasing an additional 50,075 shares during the period. Bessemer Group Inc. raised its position in shares of iRhythm Technologies by 111.7% during the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock valued at $51,217,000 after buying an additional 299,726 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its position in iRhythm Technologies by 25.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after buying an additional 102,600 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IRTC shares. Canaccord Genuity Group lowered their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Oppenheimer increased their price target 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. Truist Financial lifted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. StockNews.com cut iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.55.

iRhythm Technologies Trading Up 0.8 %

IRTC opened at $136.29 on Thursday. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $137.91. The stock has a market capitalization of $4.35 billion, a PE ratio of -37.44 and a beta of 1.34. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a 50-day moving average price of $105.74 and a two-hundred day moving average price of $97.95.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted 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 during 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%. The business's revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.23) EPS. As a group, equities analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

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.

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