Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,068 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,198 shares of the company’s stock after purchasing an additional 1,068 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in iRhythm Technologies were worth $739,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of iRhythm Technologies in the fourth quarter worth about $45,000. Van ECK Associates Corp increased its stake 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 period. Quarry LP bought a new position in shares of iRhythm Technologies in the third quarter worth about $59,000. Nisa Investment Advisors LLC increased its stake 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 period. 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 Up 0.1 %

NASDAQ IRTC opened at $104.49 on Friday. 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 stock’s 50 day moving average is $107.76 and its two-hundred day moving average is $88.62. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -28.71 and a beta of 1.36. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last announced 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. The business had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Equities analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IRTC shares. Canaccord Genuity Group boosted their price target on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group boosted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Wells Fargo & Company boosted their price target on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Oppenheimer boosted 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

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.