Monimus Capital Management LP Buys Shares of 11,659 iRhythm Technologies, Inc. (NASDAQ:IRTC)

Monimus Capital Management LP bought a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,659 shares of the company’s stock, valued at approximately $1,051,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRTC. R Squared Ltd acquired a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $45,000. Van ECK Associates Corp boosted its holdings in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares in the last quarter. Quarry LP acquired a new position in iRhythm Technologies during the 3rd quarter worth about $59,000. Nisa Investment Advisors LLC lifted its holdings in 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 buying an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in iRhythm Technologies during the 3rd quarter worth about $119,000.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $100.67 on Friday. The company has a market cap of $3.16 billion, a PE ratio of -27.66 and a beta of 1.36. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The company’s 50-day moving average price is $106.75 and its 200-day moving average price is $87.46. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.