Homestead Advisers Corp Increases Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Homestead Advisers Corp lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 31.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,100 shares of the company’s stock after purchasing an additional 6,800 shares during the period. Homestead Advisers Corp’s holdings in iRhythm Technologies were worth $2,534,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new stake in iRhythm Technologies during the fourth quarter valued at about $45,000. Van ECK Associates Corp raised its stake in 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 purchasing an additional 162 shares during the period. Quarry LP purchased a new position in iRhythm Technologies in the 3rd quarter worth approximately $59,000. Nisa Investment Advisors LLC grew its holdings in iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after buying an additional 648 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $119,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRTC. Truist Financial upped 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. Canaccord Genuity Group increased their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company boosted their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. The Goldman Sachs Group raised their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Finally, Oppenheimer upped their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, iRhythm Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $104.96 on Thursday. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $128.52. The company’s 50-day moving average is $108.18 and its 200 day moving average is $89.58. The firm has a market capitalization of $3.30 billion, a P/E ratio of -28.84 and a beta of 1.36. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. The firm had revenue of $164.33 million during 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%. Research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS 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.