Vanguard Group Inc. Boosts Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Vanguard Group Inc. grew its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,136,370 shares of the company’s stock after acquiring an additional 18,442 shares during the quarter. Vanguard Group Inc. owned about 10.02% of iRhythm Technologies worth $282,806,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IRTC. R Squared Ltd purchased a new position in iRhythm Technologies in the fourth quarter valued at about $45,000. Van ECK Associates Corp boosted its holdings 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 buying an additional 162 shares in the last quarter. Quarry LP purchased a new position in shares of iRhythm Technologies in the 3rd quarter worth approximately $59,000. Nisa Investment Advisors LLC raised its stake in shares of iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after acquiring an additional 648 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in iRhythm Technologies during the third quarter valued at approximately $119,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial upped their price target on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their price target 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. The Goldman Sachs Group increased their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Finally, Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.73.

iRhythm Technologies Price Performance

Shares of IRTC opened at $100.34 on Friday. The business’s 50-day moving average is $107.62 and its two-hundred day moving average is $91.00. The company has a market capitalization of $3.15 billion, a P/E ratio of -27.57 and a beta of 1.45. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. Research analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

iRhythm Technologies Company 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.