WCM Investment Management LLC Cuts Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

WCM Investment Management LLC lowered its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,202 shares of the company's stock after selling 2,931 shares during the quarter. WCM Investment Management LLC owned 0.44% of iRhythm Technologies worth $12,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of iRhythm Technologies in the 4th quarter valued at $45,000. Quarry LP purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at $59,000. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after buying an additional 648 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at $119,000. Finally, KBC Group NV raised its holdings in shares of iRhythm Technologies by 45.1% in the 4th 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 period.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares of the company's stock, valued at $3,034,236.03. This represents a 6.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.68% of the company's stock.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC traded up $1.02 during trading hours on Thursday, reaching $112.19. The stock had a trading volume of 357,821 shares, compared to its average volume of 416,104. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -23.08 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 fifty-two week low of $55.92 and a fifty-two week high of $124.11. The firm has a 50-day moving average of $97.91 and a 200-day moving average of $82.09.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. 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. Robert W. Baird cut their price target on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Truist Financial upped their price target on iRhythm Technologies from $85.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Wells Fargo & Company restated an "equal weight" rating and set a $86.00 price target on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group upped 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $108.45.

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.