Banque Pictet & Cie SA Raises Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Banque Pictet & Cie SA increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,264 shares of the company's stock after acquiring an additional 6,696 shares during the quarter. Banque Pictet & Cie SA owned about 0.19% of iRhythm Technologies worth $5,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRTC. R Squared Ltd bought a new stake in iRhythm Technologies in the fourth quarter worth approximately $45,000. Van ECK Associates Corp increased its holdings in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Quarry LP bought a new stake in iRhythm Technologies in the third quarter worth approximately $59,000. Nisa Investment Advisors LLC increased its holdings in iRhythm Technologies by 166.6% in 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. Finally, KBC Group NV increased its holdings 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 purchasing an additional 410 shares in the last quarter.

iRhythm Technologies Stock Up 0.3 %

Shares of NASDAQ:IRTC traded up $0.30 during mid-day trading on Tuesday, hitting $112.41. 270,127 shares of the company traded hands, compared to its average volume of 402,554. The stock has a market cap of $3.52 billion, a P/E ratio of -23.13 and a beta of 1.29. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The stock has a 50-day moving average price of $99.65 and a two-hundred day moving average price of $82.58.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the business's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of research analyst reports. Robert W. Baird lowered their target price on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Truist Financial lifted their target price on iRhythm Technologies from $85.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a report on Monday, December 9th. Needham & Company LLC boosted their price objective on iRhythm Technologies from $96.00 to $112.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Oppenheimer boosted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.