Cibc World Markets Corp Invests $264,000 in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Cibc World Markets Corp bought a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,925 shares of the company’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in iRhythm Technologies during the third quarter worth approximately $1,497,000. Barclays PLC boosted its stake in shares of iRhythm Technologies by 34.3% in the third quarter. Barclays PLC now owns 209,247 shares of the company’s stock valued at $15,534,000 after purchasing an additional 53,498 shares during the period. FMR LLC grew its holdings in iRhythm Technologies by 7.0% during the 3rd quarter. FMR LLC now owns 388,074 shares of the company’s stock valued at $28,811,000 after purchasing an additional 25,385 shares in the last quarter. Wellington Management Group LLP grew its holdings in iRhythm Technologies by 6.2% during the 3rd quarter. Wellington Management Group LLP now owns 213,949 shares of the company’s stock valued at $15,884,000 after purchasing an additional 12,478 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in iRhythm Technologies during the 3rd quarter worth $900,000.

Analyst Ratings Changes

A number of research firms have weighed in on IRTC. Oppenheimer upped their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Needham & Company LLC upped their target price on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company raised their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group upped their price target 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. Three investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

iRhythm Technologies Price Performance

IRTC opened at $106.60 on Wednesday. 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’s 50-day moving average price is $108.14 and its 200 day moving average price is $89.47. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -29.29 and a beta of 1.36.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (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%. As a group, sell-side analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

About iRhythm Technologies

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.