Versor Investments LP Takes $251,000 Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Versor Investments LP purchased a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,780 shares of the company’s stock, valued at approximately $251,000.

Several other large investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of iRhythm Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 908,843 shares of the company’s stock worth $67,473,000 after purchasing an additional 11,992 shares during the last quarter. Braidwell LP lifted its position in iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after buying an additional 256,200 shares in the last quarter. Eventide Asset Management LLC boosted its stake in iRhythm Technologies by 170.8% during the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after buying an additional 464,629 shares during the last quarter. Geode Capital Management LLC grew its holdings in iRhythm Technologies by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock valued at $54,451,000 after buying an additional 5,423 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock worth $52,501,000 after acquiring an additional 195,246 shares during the last quarter.

iRhythm Technologies Trading Down 1.0 %

Shares of IRTC stock opened at $109.10 on Tuesday. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The company has a 50 day moving average price of $104.45 and a 200 day moving average price of $85.63. The stock has a market capitalization of $3.43 billion, a P/E ratio of -29.97 and a beta of 1.29. 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 (NASDAQ:IRTC) last released 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 firm had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. Equities research analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IRTC. Canaccord Genuity Group boosted their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Oppenheimer boosted their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Truist Financial raised their price target 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. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Finally, Needham & Company LLC raised their target price on iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.