BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 38.1% during the third quarter, HoldingsChannel reports. The firm owned 707,175 shares of the company’s stock after buying an additional 195,246 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in iRhythm Technologies were worth $52,501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after purchasing an additional 277 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies during the 1st quarter worth approximately $126,000. nVerses Capital LLC lifted its position in shares of iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,600 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after buying an additional 1,594 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after buying an additional 150 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IRTC shares. Needham & Company LLC reduced their price target on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Truist Financial boosted their target price on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird decreased their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

Insider Transactions at iRhythm Technologies

In related news, Director Abhijit Y. Talwalkar bought 6,664 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the transaction, the director now owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. This trade represents a 54.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Quentin S. Blackford sold 16,145 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the transaction, the chief executive officer now directly owns 159,929 shares in the company, valued at approximately $12,380,103.89. This trade represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies Trading Up 0.7 %

NASDAQ:IRTC opened at $74.24 on Friday. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The stock’s 50 day simple moving average is $72.81 and its 200-day simple moving average is $82.45. The firm has a market cap of $2.32 billion, a P/E ratio of -15.27 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The firm had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.89) earnings per share. Equities analysts anticipate that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

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.