iRhythm Technologies, Inc. (NASDAQ:IRTC) Position Boosted by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. raised its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 113.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,430 shares of the company’s stock after acquiring an additional 15,118 shares during the period. EFG Asset Management North America Corp.’s holdings in iRhythm Technologies were worth $2,565,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IRTC. Eventide Asset Management LLC increased its stake in iRhythm Technologies by 170.8% during the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock valued at $54,694,000 after buying an additional 464,629 shares during the period. Braidwell LP boosted its holdings in shares of iRhythm Technologies by 48.7% in the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock valued at $58,097,000 after acquiring an additional 256,200 shares in the last quarter. Stephens Investment Management Group LLC increased its stake 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 valued at $45,349,000 after acquiring an additional 102,600 shares during the period. Raymond James Financial Inc. bought a new stake in iRhythm Technologies during the fourth quarter worth approximately $9,151,000. Finally, Bank of New York Mellon Corp lifted its position in iRhythm Technologies by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company’s stock worth $44,317,000 after purchasing an additional 92,591 shares during the period.

iRhythm Technologies Trading Up 0.7 %

NASDAQ IRTC opened at $106.60 on Wednesday. The firm’s 50 day moving average price is $108.14 and its two-hundred day moving average price is $89.47. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The stock 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 posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analyst Upgrades and Downgrades

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