SG Americas Securities LLC Sells 11,849 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

SG Americas Securities LLC reduced its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,308 shares of the company's stock after selling 11,849 shares during the period. SG Americas Securities LLC's holdings in iRhythm Technologies were worth $388,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of IRTC. State Street Corp boosted its position in iRhythm Technologies by 1.3% during the third quarter. State Street Corp now owns 908,843 shares of the company's stock valued at $67,473,000 after purchasing an additional 11,992 shares during the last quarter. Braidwell LP lifted 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 valued at $58,097,000 after buying an additional 256,200 shares during the last quarter. Eventide Asset Management LLC grew its stake in shares of iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock valued at $54,694,000 after buying an additional 464,629 shares in the last quarter. Geode Capital Management LLC increased its holdings in iRhythm Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 733,308 shares of the company's stock worth $54,451,000 after buying an additional 5,423 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock valued at $52,501,000 after acquiring an additional 195,246 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on IRTC shares. Robert W. Baird decreased their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Oppenheimer increased their target price 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. Needham & Company LLC boosted their price target on iRhythm Technologies from $96.00 to $112.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Wells Fargo & Company reissued an "equal weight" rating and set a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group boosted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.45.

iRhythm Technologies Stock Performance

Shares of IRTC traded up $1.45 during mid-day trading on Friday, hitting $110.00. The company's stock had a trading volume of 405,802 shares, compared to its average volume of 425,564. The stock's 50-day moving average is $96.12 and its two-hundred day moving average is $81.81. The firm has a market capitalization of $3.44 billion, a PE ratio of -22.63 and a beta of 1.29. 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 one year low of $55.92 and a one year high of $124.11.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.