Mitsubishi UFJ Asset Management Co. Ltd. Sells 512 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 6.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,295 shares of the company’s stock after selling 512 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in iRhythm Technologies were worth $663,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. EFG Asset Management North America Corp. boosted its holdings in shares of iRhythm Technologies by 113.6% in the fourth quarter. EFG Asset Management North America Corp. now owns 28,430 shares of the company’s stock valued at $2,565,000 after buying an additional 15,118 shares during the period. Segall Bryant & Hamill LLC boosted its stake in iRhythm Technologies by 5.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 139,391 shares of the company’s stock worth $12,569,000 after purchasing an additional 6,789 shares during the period. Vanguard Group Inc. increased its holdings in iRhythm Technologies by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company’s stock worth $282,806,000 after purchasing an additional 18,442 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $243,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $595,000.

Analyst Ratings Changes

A number of research firms recently issued reports on IRTC. Truist Financial increased their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company lifted their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. StockNews.com upgraded 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 increased their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Trading Up 1.4 %

iRhythm Technologies stock opened at $108.33 on Thursday. The stock has a 50-day simple moving average of $107.93 and a 200 day simple moving average of $90.71. The stock has a market capitalization of $3.40 billion, a P/E ratio of -29.76 and a beta of 1.45. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last issued 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. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. Analysts expect 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.