Schonfeld Strategic Advisors LLC purchased 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 fund purchased 6,138 shares of the company's stock, valued at approximately $553,000.
A number of other hedge funds have also recently added to or reduced their stakes in IRTC. First Light Asset Management LLC acquired a new position in iRhythm Technologies in the fourth quarter worth approximately $38,818,000. Bessemer Group Inc. increased its holdings in iRhythm Technologies by 111.7% in the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after buying an additional 299,726 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in iRhythm Technologies by 25.6% in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in iRhythm Technologies in the fourth quarter worth approximately $9,151,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in iRhythm Technologies in the fourth quarter worth approximately $9,017,000.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. The Goldman Sachs Group raised their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. StockNews.com downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Canaccord Genuity Group reduced their price objective on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC upped their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.55.
Get Our Latest Stock Report on IRTC
iRhythm Technologies Price Performance
Shares of iRhythm Technologies stock traded up $0.14 during trading on Friday, reaching $141.18. The company's stock had a trading volume of 177,840 shares, compared to its average volume of 471,174. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $144.00. The stock has a 50-day moving average price of $109.92 and a two-hundred day moving average price of $100.65. 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 stock has a market capitalization of $4.51 billion, a P/E ratio of -38.69 and a beta of 1.34.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. During the same quarter in the previous year, the company posted ($1.23) earnings per share. The business's revenue for the quarter was up 20.3% on a year-over-year basis. As a group, sell-side analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.
About iRhythm Technologies
(
Free Report)
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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