Oppenheimer Asset Management Inc. Has $909,000 Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Posted by on Aug 27th, 2023

Oppenheimer Asset Management Inc. lowered its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC – Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,329 shares of the company’s stock after selling 667 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in iRhythm Technologies were worth $909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IRTC. Van ECK Associates Corp lifted its stake in iRhythm Technologies by 39.5% in the fourth quarter. Van ECK Associates Corp now owns 544 shares of the company’s stock valued at $51,000 after buying an additional 154 shares during the period. Carmel Capital Partners LLC acquired a new position in iRhythm Technologies during the first quarter valued at approximately $57,000. Parallel Advisors LLC increased its stake in iRhythm Technologies by 29.3% in the fourth quarter. Parallel Advisors LLC now owns 736 shares of the company’s stock valued at $69,000 after purchasing an additional 167 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in iRhythm Technologies in the second quarter worth $85,000. Finally, ETF Managers Group LLC bought a new position in shares of iRhythm Technologies during the first quarter worth $92,000.

iRhythm Technologies Trading Down 1.5 %

NASDAQ IRTC opened at $104.32 on Friday. iRhythm Technologies, Inc. has a 12 month low of $85.74 and a 12 month high of $164.69. The company has a current ratio of 2.71, a quick ratio of 2.55 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $104.46 and a 200-day moving average of $114.37. The company has a market cap of $3.19 billion, a PE ratio of -31.80 and a beta of 1.35.

iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.14. The firm had revenue of $124.13 million during the quarter, compared to analysts’ expectations of $120.03 million. iRhythm Technologies had a negative net margin of 21.95% and a negative return on equity of 41.92%. On average, equities research analysts anticipate that iRhythm Technologies, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Ratings Changes

IRTC has been the topic of several recent analyst reports. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Truist Financial dropped their target price on shares of iRhythm Technologies from $155.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Oppenheimer increased their price objective on shares of iRhythm Technologies from $125.00 to $165.00 in a research report on Friday, August 4th. Needham & Company LLC cut their price objective on shares of iRhythm Technologies from $151.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Finally, Robert W. Baird began coverage on iRhythm Technologies in a report on Tuesday, July 18th. They set an “outperform” rating and a $130.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average target price of $147.00.

View Our Latest Analysis on IRTC

About iRhythm Technologies

(Free Report)

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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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Institutional Ownership by Quarter for iRhythm Technologies (NASDAQ:IRTC)

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