Schroder Investment Management Group Decreases Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Schroder Investment Management Group lowered its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,338 shares of the company’s stock after selling 18,062 shares during the period. Schroder Investment Management Group owned about 0.99% of iRhythm Technologies worth $27,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in iRhythm Technologies by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company’s stock valued at $18,983,000 after purchasing an additional 4,173 shares during the last quarter. FMR LLC grew its holdings in shares of iRhythm Technologies by 7.0% during the third quarter. FMR LLC now owns 388,074 shares of the company’s stock worth $28,811,000 after buying an additional 25,385 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of iRhythm Technologies by 245.3% in the third quarter. BNP Paribas Financial Markets now owns 11,768 shares of the company’s stock valued at $874,000 after buying an additional 8,360 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of iRhythm Technologies in the third quarter worth about $900,000. Finally, Ascent Group LLC boosted its position in iRhythm Technologies by 35.1% during the third quarter. Ascent Group LLC now owns 7,175 shares of the company’s stock worth $533,000 after acquiring an additional 1,865 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $108.33 on Thursday. 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 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 1 year low of $55.92 and a 1 year high of $128.52. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -29.76 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company had revenue of $164.33 million for the quarter, compared to analysts’ expectations of $158.30 million. As a group, equities research analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current 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.