Farringdon Capital Ltd. Makes New $426,000 Investment in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Farringdon Capital Ltd. bought a new position in iRhythm Technologies, Inc. (NASDAQ:IRTC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 4,721 shares of the company’s stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of iRhythm Technologies by 34.3% in the 3rd quarter. Barclays PLC now owns 209,247 shares of the company’s stock valued at $15,534,000 after acquiring an additional 53,498 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of iRhythm Technologies by 25.6% in the fourth 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 in the last quarter. HighTower Advisors LLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth approximately $334,000. Allspring Global Investments Holdings LLC grew its position 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 valued at $50,991,000 after purchasing an additional 50,075 shares in the last quarter. Finally, KBC Group NV increased its stake in iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after buying an additional 410 shares during the period.

Wall Street Analyst Weigh In

IRTC has been the topic of a number of research reports. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company raised their price target on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. StockNews.com upgraded shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Truist Financial increased their target price 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 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, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

iRhythm Technologies Price Performance

Shares of iRhythm Technologies stock opened at $100.96 on Friday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company has a market cap of $3.17 billion, a PE ratio of -27.74 and a beta of 1.45. The firm has a fifty day moving average price of $105.57 and a two-hundred day moving average price of $93.06. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last released its 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. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. Analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

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.