Alberta Investment Management Corp Raises Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Alberta Investment Management Corp increased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 53.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,166 shares of the company's stock after acquiring an additional 50,452 shares during the quarter. Alberta Investment Management Corp owned about 0.46% of iRhythm Technologies worth $13,090,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IRTC. Eventide Asset Management LLC increased its holdings in shares of iRhythm Technologies by 170.8% during 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 grew its holdings in shares of iRhythm Technologies by 48.7% during the 3rd quarter. Braidwell LP now owns 782,557 shares of the company's stock worth $58,097,000 after purchasing an additional 256,200 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of iRhythm Technologies by 38.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock worth $52,501,000 after purchasing an additional 195,246 shares during the period. Stephens Investment Management Group LLC lifted its position in iRhythm Technologies by 25.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after purchasing an additional 102,600 shares during the period. Finally, Fred Alger Management LLC grew its stake in iRhythm Technologies by 24.4% during the third 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IRTC shares. Canaccord Genuity Group lifted 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. Robert W. Baird decreased their price target on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Needham & Company LLC upped their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday. Oppenheimer lifted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Finally, Truist Financial boosted their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.55.

iRhythm Technologies Trading Up 6.1 %

Shares of NASDAQ:IRTC traded up $6.91 during mid-day trading on Friday, reaching $119.58. 1,775,042 shares of the company's stock were exchanged, compared to its average volume of 435,550. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $128.52. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -24.61 and a beta of 1.29. The business's fifty day moving average price is $101.11 and its 200-day moving average price is $83.27.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. On average, research analysts predict that iRhythm Technologies, Inc. will post -3.35 EPS for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares of the company's stock, valued at approximately $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.68% of the company's stock.

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.