iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,289 shares of the company’s stock after acquiring an additional 184 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in iRhythm Technologies were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Banque Pictet & Cie SA increased its stake in shares of iRhythm Technologies by 12.7% during the fourth quarter. Banque Pictet & Cie SA now owns 59,264 shares of the company’s stock worth $5,344,000 after acquiring an additional 6,696 shares during the period. Van ECK Associates Corp increased its stake in shares of iRhythm Technologies by 41.3% during 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 period. Values First Advisors Inc. increased its stake in shares of iRhythm Technologies by 9.1% during the fourth quarter. Values First Advisors Inc. now owns 5,588 shares of the company’s stock worth $504,000 after acquiring an additional 467 shares during the period. Allspring Global Investments Holdings LLC grew its position in iRhythm Technologies by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company’s stock worth $50,991,000 after buying an additional 50,075 shares during the period. Finally, Stephens Investment Management Group LLC grew its position in iRhythm Technologies by 25.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after buying an additional 102,600 shares during the period.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $112.11 on Friday. 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 company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -23.07 and a beta of 1.29. The company’s 50 day simple moving average is $99.07 and its 200 day simple moving average is $82.46. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11.

Wall Street Analyst Weigh In

IRTC has been the topic of several recent analyst reports. Canaccord Genuity Group upped their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial upped their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Needham & Company LLC upped their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Oppenheimer upped their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $86.00 target price on shares of iRhythm Technologies in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.45.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the transaction, the insider now owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

iRhythm Technologies 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.