Capital Research Global Investors Sells 317,974 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Capital Research Global Investors cut its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,637,026 shares of the company’s stock after selling 317,974 shares during the quarter. Capital Research Global Investors owned approximately 5.23% of iRhythm Technologies worth $147,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IRTC. R Squared Ltd bought a new position in shares of iRhythm Technologies in the fourth quarter worth approximately $45,000. Van ECK Associates Corp lifted its stake 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 buying an additional 162 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in iRhythm Technologies by 166.6% in 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. 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 worth $119,000 after buying an additional 410 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in iRhythm Technologies during the third quarter valued at about $119,000.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on 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 upped 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. Truist Financial boosted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Finally, StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Trading Up 1.0 %

NASDAQ IRTC opened at $100.96 on Monday. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $128.52. The company has a fifty day simple moving average of $105.45 and a two-hundred day simple moving average of $93.61. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The stock has a market cap of $3.17 billion, a P/E ratio of -27.74 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

iRhythm Technologies 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.