Raymond James Financial Inc. Purchases New Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Raymond James Financial Inc. bought a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 101,487 shares of the company’s stock, valued at approximately $9,151,000. Raymond James Financial Inc. owned 0.32% of iRhythm Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IRTC. R Squared Ltd purchased a new stake in shares of iRhythm Technologies in the fourth quarter valued at $45,000. Van ECK Associates Corp grew its holdings in shares of iRhythm Technologies by 41.3% in 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. Quarry LP bought a new position in shares of iRhythm Technologies in the third quarter worth about $59,000. Nisa Investment Advisors LLC grew its holdings in shares of iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after purchasing an additional 648 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of iRhythm Technologies in the third quarter worth about $119,000.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $104.49 on Friday. The firm has a market capitalization of $3.28 billion, a P/E ratio of -28.71 and a beta of 1.36. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The company has a 50 day moving average price of $107.76 and a 200 day moving average price of $88.62. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. Sell-side analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group upped their price target 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. Wells Fargo & Company increased their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Finally, StockNews.com upgraded shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.