iRhythm Technologies, Inc. (NASDAQ:IRTC) Position Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 128.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,640 shares of the company’s stock after purchasing an additional 7,671 shares during the period. Dimensional Fund Advisors LP’s holdings in iRhythm Technologies were worth $3,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of iRhythm Technologies in the fourth quarter valued at $139,000. Guggenheim Capital LLC bought a new position in shares of iRhythm Technologies in the fourth quarter valued at $209,000. Parametrica Management Ltd bought a new position in shares of iRhythm Technologies in the fourth quarter valued at $212,000. Cetera Advisor Networks LLC increased its holdings in shares of iRhythm Technologies by 14.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 1,058 shares of the company’s stock valued at $251,000 after buying an additional 135 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of iRhythm Technologies in the fourth quarter valued at $255,000.

Shares of NASDAQ:IRTC opened at $63.90 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of -29.05 and a beta of 1.48. iRhythm Technologies, Inc. has a 1 year low of $59.64 and a 1 year high of $286.19. The stock has a fifty day simple moving average of $83.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.66 and a quick ratio of 5.54.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, May 6th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.87) by ($0.08). iRhythm Technologies had a negative return on equity of 22.67% and a negative net margin of 22.67%. The business had revenue of $74.31 million during the quarter, compared to the consensus estimate of $70.35 million. During the same quarter in the prior year, the company posted ($0.34) earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts anticipate that iRhythm Technologies, Inc. will post -3.4 earnings per share for the current year.

Several analysts have issued reports on the stock. Truist Securities cut their target price on shares of iRhythm Technologies from $220.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, April 13th. Needham & Company LLC reissued a “hold” rating on shares of iRhythm Technologies in a research note on Wednesday, June 2nd. Citigroup downgraded shares of iRhythm Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 2nd. Truist cut their target price on shares of iRhythm Technologies from $220.00 to $115.00 in a research note on Tuesday, April 13th. Finally, BTIG Research reissued a “neutral” rating on shares of iRhythm Technologies in a research note on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $167.00.

iRhythm Technologies Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

Read More: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

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