US Bancorp DE Cuts Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

US Bancorp DE trimmed its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 24.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 604 shares of the company’s stock after selling 192 shares during the quarter. US Bancorp DE’s holdings in iRhythm Technologies were worth $54,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IRTC. Eventide Asset Management LLC raised its stake in shares of iRhythm Technologies by 170.8% during the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after purchasing an additional 464,629 shares during the period. Braidwell LP raised its stake in shares of iRhythm Technologies by 48.7% during the 3rd quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after purchasing an additional 256,200 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of iRhythm Technologies by 38.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock worth $52,501,000 after purchasing an additional 195,246 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after purchasing an additional 102,600 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of iRhythm Technologies by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company’s stock worth $44,317,000 after purchasing an additional 92,591 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Oppenheimer lifted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Truist Financial lifted their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.73.

iRhythm Technologies Stock Down 2.0 %

Shares of NASDAQ IRTC opened at $101.66 on Wednesday. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -27.93 and a beta of 1.36. The business has a 50-day moving average of $107.20 and a 200-day moving average of $88.17.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.30. The business had revenue of $164.33 million during 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%. Sell-side analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal 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.