Legal & General Group Plc Sells 4,556 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Legal & General Group Plc cut its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,926 shares of the company’s stock after selling 4,556 shares during the period. Legal & General Group Plc owned about 0.14% of iRhythm Technologies worth $4,051,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of iRhythm Technologies during the 4th quarter worth $45,000. Van ECK Associates Corp lifted its holdings in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after acquiring an additional 162 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 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 acquiring an additional 648 shares during the last quarter. KBC Group NV boosted its stake in shares of iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of iRhythm Technologies during the 3rd quarter valued at approximately $119,000.

iRhythm Technologies Trading Up 0.9 %

NASDAQ:IRTC opened at $99.48 on Wednesday. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The firm’s fifty day moving average is $104.95 and its 200-day moving average is $93.90. The firm has a market cap of $3.12 billion, a P/E ratio of -27.33 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $164.33 million for the quarter, compared to analysts’ expectations of $158.30 million. Equities analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Wells Fargo & Company raised their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Needham & Company LLC upped their target price on iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Oppenheimer lifted their price target on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group upped their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.73.

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.