iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC decreased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,202 shares of the company’s stock after selling 2,931 shares during the quarter. WCM Investment Management LLC owned about 0.44% of iRhythm Technologies worth $12,013,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IRTC. R Squared Ltd acquired a new position in iRhythm Technologies during the 4th quarter valued at about $45,000. Quarry LP bought a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $59,000. Nisa Investment Advisors LLC boosted its position in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after buying an additional 648 shares during the period. Wilmington Savings Fund Society FSB bought a new position in iRhythm Technologies in the 3rd quarter worth approximately $119,000. Finally, KBC Group NV increased its position in iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after acquiring an additional 410 shares during the period.

iRhythm Technologies Stock Performance

IRTC opened at $110.00 on Monday. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The firm has a market cap of $3.44 billion, a PE ratio of -22.63 and a beta of 1.29. The business has a fifty day simple moving average of $96.58 and a 200-day simple moving average of $81.76. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11.

Insider Activity

In other news, insider Patrick Michael Murphy sold 2,492 shares of the business’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 sale, the insider now owns 35,327 shares in the company, valued at $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IRTC has been the subject of several recent analyst reports. Canaccord Genuity Group increased their price target on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Truist Financial increased their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird lowered their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, Oppenheimer raised their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.45.

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.