iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 570,048 shares of the company's stock after purchasing an additional 50,075 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.82% of iRhythm Technologies worth $50,991,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IRTC. KBC Group NV raised its position in shares of iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in iRhythm Technologies in the fourth quarter worth about $45,000. Bank Pictet & Cie Europe AG increased 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 valued at $231,000 after purchasing an additional 567 shares during the last quarter. Nisa Investment Advisors LLC increased its position in iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after acquiring an additional 648 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in iRhythm Technologies by 27.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company's stock valued at $261,000 after purchasing an additional 754 shares during the last quarter.

iRhythm Technologies Stock Performance

IRTC traded down $0.08 during trading on Monday, reaching $112.11. 223,305 shares of the company's stock were exchanged, compared to its average volume of 447,135. The company's fifty day simple moving average is $99.07 and its 200-day simple moving average is $82.39. The stock has a market capitalization of $3.51 billion, a P/E ratio of -23.07 and a beta of 1.29. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11.

Insider Buying and Selling

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRTC. Needham & Company LLC increased their target price on iRhythm Technologies from $96.00 to $112.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Robert W. Baird dropped their target price on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Oppenheimer lifted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Canaccord Genuity Group raised their price target on iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $108.45.

iRhythm Technologies 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.