21,099 Shares in iRhythm Technologies $IRTC Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC bought a new stake in iRhythm Technologies (NASDAQ:IRTC) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 21,099 shares of the company’s stock, valued at approximately $2,398,000.

Other institutional investors have also recently made changes to their positions in the company. Squarepoint Ops LLC raised its stake in iRhythm Technologies by 1,065.8% in the 2nd quarter. Squarepoint Ops LLC now owns 71,862 shares of the company’s stock valued at $8,548,000 after purchasing an additional 65,698 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in iRhythm Technologies during the 2nd quarter worth $528,000. Rock Springs Capital Management LP boosted its stake in iRhythm Technologies by 11.4% during the 1st quarter. Rock Springs Capital Management LP now owns 261,750 shares of the company’s stock worth $30,892,000 after purchasing an additional 26,750 shares during the last quarter. Quantinno Capital Management LP boosted its stake in iRhythm Technologies by 1,172.8% during the 1st quarter. Quantinno Capital Management LP now owns 18,621 shares of the company’s stock worth $2,198,000 after purchasing an additional 17,158 shares during the last quarter. Finally, First Light Asset Management LLC boosted its stake in iRhythm Technologies by 9.3% during the 1st quarter. First Light Asset Management LLC now owns 168,116 shares of the company’s stock worth $19,841,000 after purchasing an additional 14,245 shares during the last quarter.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $88.68 on Thursday. The stock’s fifty day moving average is $112.99 and its two-hundred day moving average is $120.57. The firm has a market capitalization of $2.98 billion, a P/E ratio of -75.79 and a beta of 1.39. The company has a debt-to-equity ratio of 3.68, a quick ratio of 3.45 and a current ratio of 3.57. iRhythm Technologies has a fifty-two week low of $82.85 and a fifty-two week high of $192.47.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, November 5th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.80. iRhythm Technologies had a positive return on equity of 26.88% and a negative net margin of 4.52%. The company had revenue of $221.59 million during the quarter, compared to analysts’ expectations of $222.23 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts anticipate that iRhythm Technologies will post 0.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on IRTC. Citigroup cut shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $157.00 to $124.00 in a research report on Friday, November 6th. Canaccord Genuity Group raised their price target on shares of iRhythm Technologies from $196.00 to $206.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Wells Fargo & Company lowered their price target on shares of iRhythm Technologies from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. Truist Financial dropped their price objective on shares of iRhythm Technologies from $168.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Finally, Needham & Company LLC cut their price objective on shares of iRhythm Technologies from $194.00 to $165.00 and set a “buy” rating for the company in a report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.07.

About iRhythm Technologies

iRhythm Technologies is a medical technology company that develops digital solutions for detecting and monitoring heart rhythm disorders. Its services combine wearable electrocardiogram (ECG) devices with cloud-based data analysis and clinical reporting to help healthcare professionals assess patients for conditions such as cardiac arrhythmias. The company’s Zio product line includes wearable ECG monitors, such as Zio XT, which records a patient’s heart activity during an extended monitoring period. iRhythm also offers Zio AT, a monitoring service designed to provide clinicians with ECG data during the monitoring period.