Oppenheimer Asset Management Inc. raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC – Free Report) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,909 shares of the company’s stock after purchasing an additional 482 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in iRhythm Technologies were worth $851,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in IRTC. Headlands Technologies LLC grew its stake in shares of iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after buying an additional 426 shares in the last quarter. Nisa Investment Advisors LLC grew its position in iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares in the last quarter. SG Americas Securities LLC purchased a new stake in iRhythm Technologies during the first quarter worth about $126,000. Russell Investments Group Ltd. lifted its position in shares of iRhythm Technologies by 79,700.0% during the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after purchasing an additional 1,594 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of iRhythm Technologies by 7.6% in the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after purchasing an additional 150 shares during the period.
iRhythm Technologies Price Performance
IRTC stock opened at $73.08 on Friday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -17.28 and a beta of 1.22. iRhythm Technologies, Inc. has a fifty-two week low of $60.88 and a fifty-two week high of $124.11. The company has a quick ratio of 6.76, a current ratio of 6.92 and a debt-to-equity ratio of 6.50. The business has a 50 day moving average price of $77.64 and a 200 day moving average price of $94.20.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Citigroup reduced their price objective on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lowered their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Robert W. Baird reduced their price target on iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Wolfe Research raised iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.67.
View Our Latest Stock Report on iRhythm Technologies
Insiders Place Their Bets
In other news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the sale, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the transaction, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Patterson sold 3,012 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the sale, the insider now owns 37,133 shares of the company’s stock, valued at approximately $2,772,349.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,476 shares of company stock valued at $521,081. 0.68% of the stock is currently owned by insiders.
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.
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