iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by DLD Asset Management LP

DLD Asset Management LP decreased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 40.8% during the 4th quarter, HoldingsChannel reports. The fund owned 34,200 shares of the company’s stock after selling 23,550 shares during the quarter. DLD Asset Management LP’s holdings in iRhythm Technologies were worth $3,084,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in iRhythm Technologies during the fourth quarter worth about $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 buying an additional 162 shares during the period. Quarry LP purchased a new stake in shares of iRhythm Technologies during the 3rd quarter valued at approximately $59,000. Nisa Investment Advisors LLC lifted its holdings in iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after acquiring an additional 648 shares during the last quarter. Finally, KBC Group NV grew its position 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 acquiring an additional 410 shares during the period.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $106.88 on Wednesday. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52. The company has a fifty day simple moving average of $107.98 and a two-hundred day simple moving average of $90.59. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -29.36 and a beta of 1.36.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. As a group, equities analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

IRTC has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company increased their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group upped their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

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.