Captrust Financial Advisors Acquires Shares of 3,888 iRhythm Technologies, Inc. (NASDAQ:IRTC)

Captrust Financial Advisors acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the fourth quarter, HoldingsChannel reports. The fund acquired 3,888 shares of the company’s stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of iRhythm Technologies by 5.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock worth $297,000 after purchasing an additional 184 shares in the last quarter. Invesco Ltd. boosted its position in shares of iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock worth $1,731,000 after purchasing an additional 207 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of iRhythm Technologies by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company’s stock worth $295,000 after purchasing an additional 210 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company’s stock worth $119,000 after purchasing an additional 410 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Truist Financial lifted their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company upgraded shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $104.00 to $130.00 in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.55.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $141.21 on Wednesday. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -38.79 and a beta of 1.34. 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 50-day simple moving average of $112.33 and a 200 day simple moving average of $102.21. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $142.68.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The company had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.23) EPS. On average, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current 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.