Rhumbline Advisers Cuts Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Rhumbline Advisers cut its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 42,951 shares of the company’s stock after selling 519 shares during the quarter. Rhumbline Advisers’ holdings in iRhythm Technologies were worth $3,873,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of iRhythm Technologies during the fourth quarter valued at about $45,000. Van ECK Associates Corp lifted its holdings in 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 acquiring an additional 162 shares during the last quarter. Quarry LP bought a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $59,000. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after buying an additional 648 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $119,000.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the sale, the insider now directly owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IRTC has been the topic of several recent analyst reports. Oppenheimer boosted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Robert W. Baird lowered their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Canaccord Genuity Group boosted their price target 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. Finally, Truist Financial lifted their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $110.16 on Friday. The firm’s 50-day moving average is $104.04 and its 200-day moving average is $85.07. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52. 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 company has a market cap of $3.46 billion, a price-to-earnings ratio of -30.26 and a beta of 1.29.

iRhythm Technologies (NASDAQ:IRTC) last posted its 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. The business had revenue of $164.33 million for the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. Equities research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

About iRhythm Technologies

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.