Stephens Investment Management Group LLC Raises Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Stephens Investment Management Group LLC grew its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,925 shares of the company’s stock after buying an additional 102,600 shares during the period. Stephens Investment Management Group LLC owned 1.61% of iRhythm Technologies worth $45,349,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IRTC. Eventide Asset Management LLC boosted its position in shares of iRhythm Technologies by 170.8% in the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after purchasing an additional 464,629 shares during the period. Braidwell LP lifted its stake in shares of 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 buying an additional 256,200 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock worth $52,501,000 after buying an additional 195,246 shares during the period. Fred Alger Management LLC increased its stake in iRhythm Technologies by 24.4% in the 3rd quarter. Fred Alger Management LLC now owns 314,117 shares of the company’s stock worth $23,320,000 after buying an additional 61,696 shares in the last quarter. Finally, Western Standard LLC bought a new stake in iRhythm Technologies during the third quarter valued at about $4,535,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IRTC. Oppenheimer increased their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Canaccord Genuity Group raised their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Truist Financial boosted their price target on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.45.

Insider Activity

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction dated 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 directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

iRhythm Technologies Stock Up 1.3 %

Shares of NASDAQ IRTC opened at $110.00 on Friday. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The business’s 50 day moving average is $96.58 and its two-hundred day moving average is $81.89.

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.