Blair William & Co. IL Sells 39,704 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Blair William & Co. IL trimmed its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 604,737 shares of the company’s stock after selling 39,704 shares during the period. Blair William & Co. IL’s holdings in iRhythm Technologies were worth $54,529,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Eventide Asset Management LLC raised its position in iRhythm Technologies by 170.8% during the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock valued at $54,694,000 after purchasing an additional 464,629 shares during the last quarter. Braidwell LP raised its holdings in shares of iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock valued at $58,097,000 after acquiring an additional 256,200 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in 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 acquiring an additional 102,600 shares during the period. Raymond James Financial Inc. bought a new stake in iRhythm Technologies in the fourth quarter valued at $9,151,000. Finally, Bank of New York Mellon Corp increased its position in iRhythm Technologies by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company’s stock valued at $44,317,000 after purchasing an additional 92,591 shares during the period.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $106.11 on Friday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -29.15 and a beta of 1.36. 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, Inc. has a one year low of $55.92 and a one year high of $128.52. The company’s 50-day moving average is $108.16 and its 200 day moving average is $89.69.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly 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. The company had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. Sell-side analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.