BNP Paribas Arbitrage SA lifted its holdings in Irhythm Technologies Inc (NASDAQ:IRTC) by 2,672.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,545 shares of the company’s stock after purchasing an additional 5,345 shares during the period. BNP Paribas Arbitrage SA’s holdings in Irhythm Technologies were worth $416,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Bailard Inc. acquired a new position in shares of Irhythm Technologies in the 1st quarter worth approximately $539,000. Virtu Financial LLC bought a new position in Irhythm Technologies in the 1st quarter worth approximately $659,000. Geode Capital Management LLC raised its position in Irhythm Technologies by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 254,410 shares of the company’s stock worth $17,675,000 after purchasing an additional 16,951 shares during the last quarter. Norges Bank bought a new position in Irhythm Technologies in the 4th quarter worth approximately $46,416,000. Finally, Amalgamated Bank bought a new position in Irhythm Technologies in the 4th quarter worth approximately $246,000.
Several research analysts recently weighed in on IRTC shares. JPMorgan Chase & Co. boosted their price objective on shares of Irhythm Technologies to $110.00 in a research report on Wednesday, February 13th. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Canaccord Genuity boosted their price objective on shares of Irhythm Technologies from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. BTIG Research upgraded shares of Irhythm Technologies from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Irhythm Technologies currently has an average rating of “Buy” and an average target price of $97.33.
Shares of Irhythm Technologies stock opened at $69.48 on Friday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -36.76 and a beta of 1.66. Irhythm Technologies Inc has a 52 week low of $58.99 and a 52 week high of $98.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.27 and a quick ratio of 3.45.
Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.17. The company had revenue of $47.21 million during the quarter, compared to analysts’ expectations of $43.83 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The business’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. As a group, sell-side analysts forecast that Irhythm Technologies Inc will post -1.53 EPS for the current year.
About Irhythm Technologies
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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