SeaCrest Wealth Management LLC Buys New Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

SeaCrest Wealth Management LLC purchased a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,030 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also made changes to their positions in IRTC. Van ECK Associates Corp lifted its stake in iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after purchasing an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of iRhythm Technologies by 5.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock worth $297,000 after buying an additional 184 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after buying an additional 207 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of iRhythm Technologies by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company’s stock valued at $295,000 after buying an additional 210 shares during the last quarter. Finally, Values First Advisors Inc. grew its position in shares of iRhythm Technologies by 9.1% in the 4th quarter. Values First Advisors Inc. now owns 5,588 shares of the company’s stock valued at $504,000 after buying an additional 467 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on IRTC. Truist Financial upped 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. Needham & Company LLC upped their target price on iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Canaccord Genuity Group dropped their price target on iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group lifted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company upgraded iRhythm Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.73.

iRhythm Technologies Stock Up 1.0%

Shares of NASDAQ:IRTC opened at $146.68 on Monday. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -40.30 and a beta of 1.40. The firm’s 50-day simple moving average is $122.38 and its 200-day simple moving average is $107.82. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $147.46.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. During the same quarter in the previous year, the business earned ($1.23) EPS. iRhythm Technologies’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, equities research 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.