Cibc World Markets Corp Purchases Shares of 2,925 iRhythm Technologies, Inc. (NASDAQ:IRTC)

Cibc World Markets Corp acquired a new position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,925 shares of the company’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IRTC. Intech Investment Management LLC acquired a new position in iRhythm Technologies during the 3rd quarter worth $702,000. Charles Schwab Investment Management Inc. raised its stake in shares of iRhythm Technologies by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company’s stock valued at $18,983,000 after purchasing an additional 4,173 shares in the last quarter. Algert Global LLC lifted its holdings in iRhythm Technologies by 332.8% in the third quarter. Algert Global LLC now owns 13,560 shares of the company’s stock worth $1,007,000 after purchasing an additional 10,427 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in iRhythm Technologies in the 3rd quarter valued at about $1,497,000. Finally, The Manufacturers Life Insurance Company grew its position in iRhythm Technologies by 7.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 196,423 shares of the company’s stock valued at $14,582,000 after buying an additional 13,377 shares in the last quarter.

Wall Street Analyst Weigh In

IRTC has been the subject of a number of research analyst reports. Truist Financial upped their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research note 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 research report on Friday, February 21st. Canaccord Genuity Group lifted their price target on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Oppenheimer upped their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Finally, StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.73.

iRhythm Technologies Trading Up 0.7 %

iRhythm Technologies 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 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 has a market capitalization of $3.35 billion, a price-to-earnings ratio of -29.29 and a beta of 1.36. The company has a 50 day moving average price of $108.14 and a 200 day moving average price of $89.47.

iRhythm Technologies (NASDAQ:IRTC) last issued 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. The business had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Research analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

iRhythm Technologies Company 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.