Intech Investment Management LLC Increases Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Intech Investment Management LLC boosted its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 57.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,927 shares of the company’s stock after purchasing an additional 5,467 shares during the period. Intech Investment Management LLC’s holdings in iRhythm Technologies were worth $1,346,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in iRhythm Technologies by 1.3% in the third quarter. State Street Corp now owns 908,843 shares of the company’s stock valued at $67,473,000 after purchasing an additional 11,992 shares during the last quarter. Braidwell LP lifted its stake in iRhythm Technologies by 48.7% in the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock valued at $58,097,000 after purchasing an additional 256,200 shares during the last quarter. Eventide Asset Management LLC lifted its stake in iRhythm Technologies by 170.8% in the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock valued at $54,694,000 after purchasing an additional 464,629 shares during the last quarter. Geode Capital Management LLC lifted its stake in iRhythm Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock valued at $54,451,000 after purchasing an additional 5,423 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in iRhythm Technologies by 38.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after purchasing an additional 195,246 shares during the last quarter.

iRhythm Technologies Trading Up 0.1 %

iRhythm Technologies stock opened at $104.49 on Friday. The stock has a market cap of $3.28 billion, a P/E ratio of -28.71 and a beta of 1.36. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The firm’s fifty day moving average price is $107.76 and its 200-day moving average price is $88.62. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. Equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IRTC shares. Truist Financial upped their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Oppenheimer boosted their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group boosted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average target price of $119.73.

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.