Charles Schwab Investment Management Inc. Purchases 3,791 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Charles Schwab Investment Management Inc. boosted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 259,494 shares of the company’s stock after buying an additional 3,791 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in iRhythm Technologies were worth $23,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IRTC. Oppenheimer Asset Management Inc. increased its stake in iRhythm Technologies by 17.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 9,275 shares of the company’s stock valued at $689,000 after acquiring an additional 1,366 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in iRhythm Technologies during the third quarter valued at about $1,522,000. Segall Bryant & Hamill LLC grew its stake in shares of iRhythm Technologies by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 132,602 shares of the company’s stock valued at $9,844,000 after purchasing an additional 2,742 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of iRhythm Technologies by 38.1% in the 3rd 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 period. Finally, Intech Investment Management LLC bought a new stake in shares of iRhythm Technologies in the 3rd quarter valued at approximately $702,000.

iRhythm Technologies Stock Down 2.0 %

NASDAQ IRTC opened at $101.66 on Wednesday. The firm has a market cap of $3.19 billion, a PE ratio of -27.93 and a beta of 1.36. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $128.52. The stock’s 50 day simple moving average is $107.20 and its 200 day simple moving average is $88.17. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. The business had revenue of $164.33 million for the quarter, compared to analyst estimates 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, sell-side 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 research analysts have recently weighed in on IRTC shares. Wells Fargo & Company upped their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. The Goldman Sachs Group upped their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. 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. Oppenheimer upped their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC upped their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.