TimesSquare Capital Management LLC lowered its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 16.3% during the 4th quarter, HoldingsChannel reports. The firm owned 666,620 shares of the company’s stock after selling 130,000 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Irhythm Technologies were worth $37,364,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in IRTC. Advisor Group Inc. lifted its stake in Irhythm Technologies by 763.9% in the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after purchasing an additional 2,582 shares in the last quarter. Shaker Investments LLC OH purchased a new stake in Irhythm Technologies in the 4th quarter worth $263,000. Voya Investment Management LLC purchased a new stake in Irhythm Technologies in the 2nd quarter worth $274,000. The Manufacturers Life Insurance Company lifted its stake in Irhythm Technologies by 84.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock worth $476,000 after purchasing an additional 5,124 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in Irhythm Technologies in the 4th quarter worth $529,000. Institutional investors and hedge funds own 99.25% of the company’s stock.
Several brokerages have commented on IRTC. JPMorgan Chase & Co. boosted their price target on shares of Irhythm Technologies from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. BMO Capital Markets assumed coverage on shares of Irhythm Technologies in a report on Monday, March 5th. They issued an “outperform” rating and a $76.00 target price on the stock. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 5th. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $59.00 target price on shares of Irhythm Technologies in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $67.33.
Shares of Irhythm Technologies Inc (NASDAQ:IRTC) opened at $66.94 on Friday. Irhythm Technologies Inc has a fifty-two week low of $32.10 and a fifty-two week high of $68.07. The company has a current ratio of 5.72, a quick ratio of 7.57 and a debt-to-equity ratio of 0.41.
Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.13). Irhythm Technologies had a negative return on equity of 34.44% and a negative net margin of 29.87%. The business had revenue of $28.20 million during the quarter, compared to the consensus estimate of $26.79 million. During the same quarter last year, the firm earned ($0.37) earnings per share. The business’s quarterly revenue was up 50.8% on a year-over-year basis. research analysts expect that Irhythm Technologies Inc will post -1.53 EPS for the current year.
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Irhythm Technologies Company Profile
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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