BNP Paribas Financial Markets Raises Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

BNP Paribas Financial Markets lifted its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 245.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,768 shares of the company's stock after purchasing an additional 8,360 shares during the period. BNP Paribas Financial Markets' holdings in iRhythm Technologies were worth $874,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of iRhythm Technologies by 38.1% during 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 in the last quarter. Mackenzie Financial Corp lifted its position in shares of iRhythm Technologies by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company's stock valued at $153,745,000 after acquiring an additional 80,091 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in iRhythm Technologies by 14.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company's stock worth $51,192,000 after acquiring an additional 60,560 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in iRhythm Technologies by 12.3% in the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company's stock worth $57,717,000 after purchasing an additional 58,668 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in iRhythm Technologies by 272.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company's stock valued at $5,935,000 after purchasing an additional 58,448 shares in the last quarter.

Insider Buying and Selling at iRhythm Technologies

In other news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the transaction, the chief executive officer now directly owns 159,929 shares of the company's stock, valued at $12,380,103.89. This represents a 9.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

iRhythm Technologies Stock Down 2.0 %

Shares of IRTC stock traded down $1.80 on Thursday, hitting $88.13. The stock had a trading volume of 212,297 shares, compared to its average volume of 467,459. 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 has a 50 day moving average of $76.42 and a 200 day moving average of $81.18. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -18.28 and a beta of 1.26.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The firm had revenue of $147.54 million for the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.89) EPS. As a group, analysts expect that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Needham & Company LLC cut their price target on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. StockNews.com downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. The Goldman Sachs Group began coverage on iRhythm Technologies in a report on Friday, October 4th. They issued a "neutral" rating and a $78.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research note on Monday. 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. According to data from MarketBeat.com, iRhythm Technologies presently has an average rating of "Moderate Buy" and an average target price of $107.82.

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.