R Squared Ltd Makes New Investment in iRhythm Technologies, Inc. (NASDAQ:IRTC)

R Squared Ltd acquired a new stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) in the 4th quarter, Holdings Channel reports. The firm acquired 500 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. KBC Group NV lifted its stake in iRhythm Technologies by 45.1% in the fourth quarter. KBC Group NV now owns 1,319 shares of the company’s stock worth $119,000 after acquiring an additional 410 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of iRhythm Technologies by 22.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after purchasing an additional 567 shares during the last quarter. Nisa Investment Advisors LLC grew its stake 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 purchasing an additional 648 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in iRhythm Technologies by 27.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock valued at $261,000 after buying an additional 754 shares during the last quarter. Finally, Quarry LP acquired a new stake in iRhythm Technologies in the third quarter valued at $59,000.

Insider Activity

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 value of $214,037.88. Following the sale, the insider now owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IRTC shares. Oppenheimer upped their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Needham & Company LLC raised their price objective 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. Wells Fargo & Company restated an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Robert W. Baird cut their price target 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. Finally, Canaccord Genuity Group upped their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.45.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $108.85 on Monday. The stock’s 50-day moving average price is $94.18 and its 200 day moving average price is $81.40. 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 stock has a market capitalization of $3.41 billion, a PE ratio of -22.40 and a beta of 1.26. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11.

iRhythm Technologies Company 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.