iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,664 shares of the company’s stock after selling 244 shares during the period. Principal Financial Group Inc.’s holdings in iRhythm Technologies were worth $240,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. R Squared Ltd acquired a new position in shares of iRhythm Technologies in the 4th quarter valued at $45,000. Van ECK Associates Corp increased its position in shares of iRhythm Technologies by 41.3% in the 4th 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 period. Quarry LP acquired a new position in shares of iRhythm Technologies in the 3rd quarter valued at $59,000. Nisa Investment Advisors LLC increased its position in shares of iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after acquiring an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of iRhythm Technologies in the 3rd quarter valued at $119,000.

iRhythm Technologies Trading Up 0.4 %

IRTC stock opened at $101.75 on Friday. The company’s 50-day simple moving average is $105.66 and its 200-day simple moving average is $86.41. 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 52-week low of $55.92 and a 52-week high of $128.52. The firm has a market cap of $3.20 billion, a P/E ratio of -27.95 and a beta of 1.36.

iRhythm Technologies (NASDAQ:IRTC) last posted 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. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. As a group, equities analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

IRTC has been the topic of several research reports. StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Truist Financial upped their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Oppenheimer upped their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group increased 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 increased their price target on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

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.