Algert Global LLC Acquires 6,083 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Algert Global LLC increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 44.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,643 shares of the company’s stock after purchasing an additional 6,083 shares during the quarter. Algert Global LLC owned approximately 0.06% of iRhythm Technologies worth $1,771,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ancora Advisors LLC lifted its position in shares of iRhythm Technologies by 20.1% during the 4th quarter. Ancora Advisors LLC now owns 4,000 shares of the company’s stock valued at $361,000 after buying an additional 670 shares in the last quarter. Freestone Grove Partners LP purchased a new position in iRhythm Technologies during the fourth quarter valued at approximately $1,507,000. Comerica Bank lifted its holdings in iRhythm Technologies by 92.6% during the fourth quarter. Comerica Bank now owns 74,210 shares of the company’s stock valued at $6,692,000 after purchasing an additional 35,687 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of iRhythm Technologies in the fourth quarter worth approximately $553,000. Finally, First Light Asset Management LLC purchased a new stake in shares of iRhythm Technologies in the fourth quarter worth $38,818,000.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $137.70 on Friday. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $140.73. The company’s 50-day moving average price is $106.91 and its 200-day moving average price is $98.90. The company has a market cap of $4.40 billion, a PE ratio of -37.83 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). The company had revenue of $158.68 million for 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% on a year-over-year basis. During the same quarter last year, the company earned ($1.23) earnings per share. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Needham & Company LLC increased their target price on iRhythm Technologies from $138.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company upgraded shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $128.55.

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.