DLD Asset Management LP Trims Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

DLD Asset Management LP lessened its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 40.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,200 shares of the company’s stock after selling 23,550 shares during the quarter. DLD Asset Management LP owned 0.11% of iRhythm Technologies worth $3,084,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stephens Investment Management Group LLC lifted its holdings in shares of iRhythm Technologies by 25.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after purchasing an additional 102,600 shares during the period. Raymond James Financial Inc. purchased a new position in iRhythm Technologies during the 4th quarter worth approximately $9,151,000. Bank of New York Mellon Corp lifted its stake in iRhythm Technologies by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company’s stock valued at $44,317,000 after acquiring an additional 92,591 shares during the period. Western Standard LLC purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at $4,535,000. Finally, Barclays PLC increased its stake in shares of iRhythm Technologies by 34.3% in the third 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 period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IRTC shares. The Goldman Sachs Group boosted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Oppenheimer boosted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Wells Fargo & Company lifted their price target on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Finally, Truist Financial upped 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average target price of $119.73.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $106.88 on Wednesday. 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, Inc. has a 1 year low of $55.92 and a 1 year high of $128.52. The firm has a market capitalization of $3.36 billion, a PE ratio of -29.36 and a beta of 1.36. The business’s 50 day moving average price is $107.98 and its 200-day moving average price is $90.59.

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