iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,839 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Handelsbanken Fonder AB’s holdings in iRhythm Technologies were worth $977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of iRhythm Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 908,843 shares of the company’s stock worth $67,473,000 after purchasing an additional 11,992 shares during the last quarter. Braidwell LP boosted its holdings in iRhythm Technologies by 48.7% during the 3rd quarter. Braidwell LP now owns 782,557 shares of the company’s stock valued at $58,097,000 after acquiring an additional 256,200 shares during the period. Eventide Asset Management LLC boosted its holdings in iRhythm Technologies by 170.8% during the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock valued at $54,694,000 after acquiring an additional 464,629 shares during the period. Geode Capital Management LLC boosted its holdings in iRhythm Technologies by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock valued at $54,451,000 after acquiring an additional 5,423 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in iRhythm Technologies by 38.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after acquiring an additional 195,246 shares during the period.

Wall Street Analyst Weigh In

IRTC has been the subject of a number of research analyst reports. Needham & Company LLC raised their target price on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday, February 21st. Oppenheimer raised their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their target price on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. StockNews.com upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday. Finally, Truist Financial lifted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.73.

Insider Buying and Selling

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was 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 $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by company insiders.

iRhythm Technologies Price Performance

IRTC stock opened at $106.57 on Friday. The business has a 50 day moving average price of $103.64 and a 200 day moving average price of $84.76. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -29.28 and a beta of 1.29. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Equities research analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

About iRhythm Technologies

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.