6,737 Shares in iRhythm Technologies, Inc. (NASDAQ:IRTC) Acquired by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC purchased 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 firm purchased 6,737 shares of the company’s stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its position in iRhythm Technologies by 34.3% during the 3rd quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after acquiring an additional 53,498 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of iRhythm Technologies by 25.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after buying an additional 102,600 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of iRhythm Technologies by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company’s stock worth $50,991,000 after buying an additional 50,075 shares during the last quarter. KBC Group NV grew its position in shares of iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock worth $119,000 after buying an additional 410 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock worth $1,731,000 after buying an additional 207 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IRTC. Canaccord Genuity Group cut their price objective on iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Robert W. Baird lifted their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Truist Financial lifted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Needham & Company LLC lifted their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $128.55.

iRhythm Technologies Trading Up 0.5%

IRTC opened at $140.46 on Thursday. The stock has a market cap of $4.48 billion, a PE ratio of -38.59 and a beta of 1.34. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The business has a 50 day moving average of $109.06 and a 200-day moving average of $100.21. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $142.27.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). The firm had revenue of $158.68 million during the quarter, compared to analysts’ expectations of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.23) EPS. Equities research analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal 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.