Intech Investment Management LLC Grows Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Intech Investment Management LLC lifted its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 57.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,927 shares of the company’s stock after buying an additional 5,467 shares during the period. Intech Investment Management LLC’s holdings in iRhythm Technologies were worth $1,346,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of IRTC. R Squared Ltd purchased a new position in shares of iRhythm Technologies in the fourth quarter worth about $45,000. Van ECK Associates Corp increased its holdings in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after buying an additional 162 shares during the period. Quarry LP purchased a new position in shares of iRhythm Technologies in the third quarter worth about $59,000. Nisa Investment Advisors LLC increased its holdings in shares of iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after buying an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of iRhythm Technologies in the third quarter worth about $119,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IRTC. Oppenheimer lifted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Truist Financial raised their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company raised their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group raised their target price on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $104.49 on Friday. The stock’s 50 day simple moving average is $107.76 and its two-hundred day simple moving average 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. The stock has a market cap of $3.28 billion, a price-to-earnings 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.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $158.30 million. As a group, analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

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.