Homestead Advisers Corp Purchases 6,800 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Homestead Advisers Corp boosted its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 31.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,100 shares of the company’s stock after acquiring an additional 6,800 shares during the period. Homestead Advisers Corp owned 0.09% of iRhythm Technologies worth $2,534,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of iRhythm Technologies in the fourth quarter worth about $45,000. Van ECK Associates Corp raised its position in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after acquiring an additional 162 shares in the last quarter. Quarry LP purchased a new position in shares of iRhythm Technologies in the 3rd quarter valued at approximately $59,000. Nisa Investment Advisors LLC grew its stake in iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after purchasing an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in iRhythm Technologies in the third quarter worth $119,000.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC opened at $104.96 on Thursday. The firm’s 50-day moving average price is $108.18 and its 200-day moving average price is $89.58. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $128.52. The company has a market cap of $3.30 billion, a PE ratio of -28.84 and a beta of 1.36. 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 (NASDAQ:IRTC) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.30. The business had revenue of $164.33 million during the quarter, compared to analyst estimates 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, analysts anticipate that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

IRTC has been the topic of a number of recent research reports. Oppenheimer upped their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Needham & Company LLC upped their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Truist Financial lifted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group upped their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Finally, StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Three equities 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.73.

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.