iRhythm Technologies, Inc. (NASDAQ:IRTC) Stake Raised by Champlain Investment Partners LLC

Champlain Investment Partners LLC boosted its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 8.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 726,262 shares of the company’s stock after buying an additional 59,161 shares during the period. Champlain Investment Partners LLC’s holdings in iRhythm Technologies were worth $65,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC lifted its holdings 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 buying an additional 53,498 shares during the period. Stephens Investment Management Group LLC grew its stake in shares of iRhythm Technologies by 25.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after purchasing an additional 102,600 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of iRhythm Technologies in the 3rd quarter worth approximately $334,000. Allspring Global Investments Holdings LLC boosted its holdings in iRhythm Technologies by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company’s stock worth $50,991,000 after buying an additional 50,075 shares in the last quarter. Finally, State Street Corp boosted its holdings in iRhythm Technologies by 1.3% during the third quarter. State Street Corp now owns 908,843 shares of the company’s stock worth $67,473,000 after buying an additional 11,992 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on IRTC. Needham & Company LLC increased their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. StockNews.com upgraded shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Wells Fargo & Company raised their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Oppenheimer lifted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, Truist Financial raised their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.73.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $99.95 on Thursday. The stock has a market cap of $3.14 billion, a P/E ratio of -27.46 and a beta of 1.45. 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, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The company’s 50-day simple moving average is $105.74 and its 200 day simple moving average is $92.87.

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