iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Sei Investments Co.

Sei Investments Co. raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,653 shares of the company’s stock after purchasing an additional 18,358 shares during the period. Sei Investments Co. owned 1.02% of iRhythm Technologies worth $28,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IRTC. Dynamic Technology Lab Private Ltd purchased a new position in iRhythm Technologies in the third quarter valued at $1,497,000. Barclays PLC boosted its position in shares of 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 in the last quarter. FMR LLC increased its holdings in shares of iRhythm Technologies by 7.0% in the 3rd quarter. FMR LLC now owns 388,074 shares of the company’s stock valued at $28,811,000 after acquiring an additional 25,385 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of iRhythm Technologies by 6.2% in the 3rd quarter. Wellington Management Group LLP now owns 213,949 shares of the company’s stock valued at $15,884,000 after acquiring an additional 12,478 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in iRhythm Technologies during the third quarter worth approximately $900,000.

Analyst Ratings Changes

IRTC has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Needham & Company LLC increased their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Oppenheimer lifted their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Truist Financial lifted their target price 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $106.60 on Wednesday. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52. The stock’s 50-day moving average price is $108.14 and its 200 day moving average price is $89.47. 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 stock has a market capitalization of $3.35 billion, a PE ratio of -29.29 and a beta of 1.36.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 business had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. As a group, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS 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.