Rockefeller Capital Management LP increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) by 288.9% in the third quarter, according to the company’s most recent disclosure with the SEC. The institutional investor owned 2,038 shares of the company’s stock after buying an additional 1,514 shares during the quarter. Rockefeller Capital Management LP’s holdings in iRhythm Technologies were worth $255,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Capital Research Global Investors grew its stake in shares of iRhythm Technologies by 60.9% during the first quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock valued at $222,237,000 after acquiring an additional 534,300 shares in the last quarter. LTS One Management LP grew its stake in iRhythm Technologies by 51.0% during the 2nd quarter. LTS One Management LP now owns 1,525,000 shares of the company’s stock valued at $164,746,000 after purchasing an additional 515,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in iRhythm Technologies by 130.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 486,003 shares of the company’s stock worth $52,501,000 after purchasing an additional 275,500 shares during the last quarter. Deutsche Bank AG raised its position in shares of iRhythm Technologies by 621.4% in the 2nd quarter. Deutsche Bank AG now owns 139,741 shares of the company’s stock valued at $15,096,000 after purchasing an additional 120,371 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of iRhythm Technologies by 172.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 156,704 shares of the company’s stock valued at $24,676,000 after buying an additional 99,182 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of iRhythm Technologies from $198.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, November 2nd. StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Monday. Morgan Stanley lowered their price objective on iRhythm Technologies from $165.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 6th. Needham & Company LLC cut their price objective on iRhythm Technologies from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, November 2nd. Finally, Wolfe Research raised shares of iRhythm Technologies from an “underperforming” rating to a “peer performing” rating in a report on Monday, November 7th. Three equity research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.00.
iRhythm Technologies Stock Up 4.0 %
Shares of IRTC stock opened at $102.25 on Thursday. The stock’s 50 day simple moving average is $98.51 and its 200 day simple moving average is $122.00. iRhythm Technologies, Inc. has a twelve month low of $85.74 and a twelve month high of $169.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.25 and a current ratio of 3.42. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -23.72 and a beta of 1.44.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.19. The company had revenue of $103.88 million for the quarter, compared to analyst estimates of $106.43 million. iRhythm Technologies has a negative net margin of 33.79% and a negative return on equity of 39.31%. As a group, research analysts predict that iRhythm Technologies, Inc. will post -3.82 EPS for the current year.
iRhythm Technologies Profile
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iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, which continuously records and stores ECG data from every patient heartbeat for up to 14 consecutive days, and Zio AT, which provides ECG data but also provides physicians with actionable notifications during the wear period .
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