Geode Capital Management LLC raised its position in iRhythm Technologies (NASDAQ:IRTC – Free Report) by 8.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 858,405 shares of the company’s stock after buying an additional 68,301 shares during the period. Geode Capital Management LLC’s holdings in iRhythm Technologies were worth $152,337,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of IRTC. Royal Bank of Canada raised its position in iRhythm Technologies by 423.0% in the first quarter. Royal Bank of Canada now owns 7,573 shares of the company’s stock valued at $793,000 after purchasing an additional 6,125 shares during the last quarter. Goldman Sachs Group Inc. raised its position in iRhythm Technologies by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock valued at $45,408,000 after purchasing an additional 108,941 shares during the last quarter. Strs Ohio bought a new position in iRhythm Technologies in the first quarter valued at about $147,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of iRhythm Technologies in the second quarter valued at about $1,278,000. Finally, First Trust Advisors LP increased its stake in shares of iRhythm Technologies by 66.0% in the second quarter. First Trust Advisors LP now owns 56,197 shares of the company’s stock valued at $8,652,000 after buying an additional 22,337 shares during the period.
iRhythm Technologies Trading Up 2.7%
Shares of iRhythm Technologies stock opened at $107.35 on Friday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. iRhythm Technologies has a 52 week low of $101.75 and a 52 week high of $212.00. The stock has a 50 day moving average price of $117.95 and a two-hundred day moving average price of $143.74. The stock has a market capitalization of $3.53 billion, a PE ratio of -124.82 and a beta of 1.27.
Insider Buying and Selling
In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of iRhythm Technologies stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $10.71 per share, with a total value of $56,891.52. Following the completion of the purchase, the director owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. The trade was a 26.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.98% of the company’s stock.
Analyst Ratings Changes
IRTC has been the subject of several recent research reports. Robert W. Baird decreased their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Wall Street Zen cut iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. HC Wainwright reissued a “buy” rating on shares of iRhythm Technologies in a research note on Monday. Bank of America decreased their price target on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. decreased their price target on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.69.
View Our Latest Stock Analysis on iRhythm Technologies
About iRhythm Technologies
iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.
The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.
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