Van ECK Associates Corp Boosts Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Van ECK Associates Corp grew its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 41.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 554 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Van ECK Associates Corp’s holdings in iRhythm Technologies were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. boosted its position in iRhythm Technologies by 9.1% during the 4th quarter. Values First Advisors Inc. now owns 5,588 shares of the company’s stock valued at $504,000 after purchasing an additional 467 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of iRhythm Technologies by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company’s stock worth $50,991,000 after purchasing an additional 50,075 shares during the period. Stephens Investment Management Group LLC raised its position in shares of iRhythm Technologies by 25.6% during the fourth 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. R Squared Ltd acquired a new stake in shares of iRhythm Technologies during the fourth quarter worth $45,000. Finally, KBC Group NV raised its position in iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after buying an additional 410 shares during the period.

Insider Buying and Selling at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Up 6.1 %

Shares of IRTC opened at $119.58 on Monday. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -32.85 and a beta of 1.29. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The business’s fifty day moving average price is $101.77 and its two-hundred day moving average price is $83.79. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.30. The firm had revenue of $164.33 million for 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%. On average, analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on IRTC shares. Wells Fargo & Company upped their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday. Truist Financial upped their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird cut their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Oppenheimer increased their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC increased their target price on iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and an average target price of $115.55.

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.