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

Versor Investments LP bought a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) in the fourth quarter, HoldingsChannel reports. The fund bought 2,780 shares of the company’s stock, valued at approximately $251,000.

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

Analyst Upgrades and Downgrades

IRTC has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Needham & Company LLC boosted their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group upped their price objective 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. Truist Financial lifted their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $119.73.

iRhythm Technologies Stock Down 1.0 %

IRTC opened at $109.10 on Tuesday. The business has a 50 day moving average price of $104.45 and a two-hundred day moving average price of $85.63. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52. The company has a market cap of $3.43 billion, a PE ratio of -29.97 and a beta of 1.29. 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 (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. As a group, research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current 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.