Swiss National Bank Boosts Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Swiss National Bank lifted its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 61,400 shares of the company’s stock after buying an additional 700 shares during the period. Swiss National Bank’s holdings in iRhythm Technologies were worth $5,536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of iRhythm Technologies in the 4th quarter valued at approximately $45,000. Van ECK Associates Corp increased its stake in iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after acquiring an additional 162 shares during the last quarter. Quarry LP acquired a new stake in iRhythm Technologies during the third quarter worth $59,000. Nisa Investment Advisors LLC raised its position in iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after purchasing 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 0.1 %

IRTC opened at $104.49 on Monday. The business has a fifty day moving average price of $107.76 and a 200 day moving average price of $88.90. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -28.71 and a beta of 1.36.

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

Analyst Ratings Changes

IRTC has been the topic of several research analyst reports. Oppenheimer boosted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Needham & Company LLC upped their price objective 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. The Goldman Sachs Group lifted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, February 24th. 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 note on Friday, February 21st. Finally, Canaccord Genuity Group lifted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.