Bryce Point Capital LLC Buys New Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Bryce Point Capital LLC purchased a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,093 shares of the company’s stock, valued at approximately $1,271,000.

A number of other institutional investors also recently bought and sold shares of the business. Stephens Investment Management Group LLC raised its position in shares of iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after acquiring an additional 102,600 shares in the last quarter. Raymond James Financial Inc. purchased a new position in iRhythm Technologies in the fourth quarter valued at approximately $9,151,000. Bank of New York Mellon Corp raised its holdings in iRhythm Technologies by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company’s stock worth $44,317,000 after purchasing an additional 92,591 shares in the last quarter. Western Standard LLC purchased a new stake in shares of iRhythm Technologies during the 3rd quarter worth approximately $4,535,000. Finally, Barclays PLC boosted its holdings in shares of iRhythm Technologies by 34.3% in the 3rd quarter. Barclays PLC now owns 209,247 shares of the company’s stock valued at $15,534,000 after buying an additional 53,498 shares in the last quarter.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $108.33 on Thursday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The business has a 50 day simple moving average of $107.93 and a 200-day simple moving average of $90.71. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. The stock has a market capitalization of $3.40 billion, a PE ratio of -29.76 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC) last released its 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 net margin of 19.14% and a negative return on equity of 118.83%. The company had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. Equities analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analysts Set New Price Targets

IRTC has been the subject of a number of research reports. Oppenheimer boosted their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. The Goldman Sachs Group upped their target price on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Canaccord Genuity Group lifted their price target on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial boosted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.