Bryce Point Capital LLC Buys Shares of 14,093 iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bryce Point Capital LLC bought a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 14,093 shares of the company’s stock, valued at approximately $1,271,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IRTC. Barclays PLC boosted its holdings in iRhythm Technologies by 34.3% during the third quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after buying an additional 53,498 shares in the last quarter. FMR LLC lifted its position in shares of iRhythm Technologies by 7.0% during the 3rd quarter. FMR LLC now owns 388,074 shares of the company’s stock valued at $28,811,000 after acquiring an additional 25,385 shares during the period. Wellington Management Group LLP boosted its stake in shares of iRhythm Technologies by 6.2% during the 3rd quarter. Wellington Management Group LLP now owns 213,949 shares of the company’s stock worth $15,884,000 after acquiring an additional 12,478 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of iRhythm Technologies in the 3rd quarter worth approximately $900,000. Finally, Stephens Investment Management Group LLC increased its stake in iRhythm Technologies by 25.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock valued at $45,349,000 after purchasing an additional 102,600 shares in the last quarter.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $108.33 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 simple moving average is $107.93 and its 200 day simple moving average is $90.71. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -29.76 and a beta of 1.45. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. The company 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, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on IRTC. Oppenheimer boosted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Truist Financial raised their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group lifted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.